Ebix gets approval of $400 million sale to stalking horse bidder

By Sarah Lizee

Olympia, Wash., Feb. 16 – Ebix, Inc. received approval of a $400 million asset sale to stalking horse bidder Zinnia, an Eldridge business and life insurance and annuity technology and service company, according to an order filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The assets include Ebix’s North American Life and Annuity assets, as previously reported.

The company’s bid procedures allowed other potential bidders to submit bids through a court-supervised competitive process, but Ebix said it did not receive any other qualified bids by the deadline.

Ebix is a Johns Creek, Ga.-based international supplier of on-demand software and e-commerce services to the insurance, financial, health care and e-learning industries. The company filed bankruptcy on Dec. 17 under Chapter 11 case number 23-80004.

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