Management Buyout Of EBIX - Law Firm Seeks Higher Price For Shareholders

   Management Buyout Of EBIX - Law Firm Seeks Higher Price For Shareholders

PR Newswire

NEW YORK, May 1, 2013

NEW YORK, May 1, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading national
securities and shareholder rights firm, announces that it has been retained to
represent shareholders of EBIX Inc. (NASDAQ: EBIX). Ebix announced that it
has entered into a definitive merger agreement to be acquired by an affiliate
of Goldman, Sachs & Co. ("Goldman Sachs") in a transaction valued at
approximately $820 million, including the assumption of any outstanding debt.
Under the terms of the agreement, Ebix shareholders will receive $20.00 per
share in cash.

Robin Raina, who is the Chairman, CEO and President of Ebix, and the Rennes
Fondation, which together own approximately 19% of the outstanding common
shares, have entered into separate voting agreements under which they have
agreed to vote their respective shares in favor of the proposed transaction.
Robin Raina and the Rennes Fondation will continue to be meaningful equity
investors in Ebix.

The investigation concerns whether Robin Raina and the other members of the
board of directors of Ebix have breached their fiduciary duties by not
engaging in a full and fair auction of the company to allow shareholders to
obtain maximum value for their shares. Further, the participation of Raina in
the buyout presents an inherent conflict of interest as Raina is seeking to
acquire the remaining shares of Ebix for himself at the lowest price
possible. Indeed, analysts have projected that the true inherent going
forward value of Ebix is worth at least $24 per share and the valuation being
offered for the company is below that of comparable recent transactions in the

If you are a shareholder of EBIX and would like further information regarding
this matter and how it affects your rights as a shareholder, at no cost or
obligation, please contact us toll free at 1-877-772-3975 or email at

Tripp Levy PLLC is a national law firm that has recovered millions of dollars
for shareholders in similar actions around the globe.

Tripp Levy PLLC
New York, New York


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