Ebix, which provides software and e-commerce services to the insurance industry, said it will acquire A.D.A.M., which develops and publishes health information articles and illustrations, for $66 million.
Ebix to acquire A.D.A.M.
The deal will expand the Atlanta-based companies' opportunities to sell services to health insurers at a particularly challenging time in the industry, Robin Raina, chairman, president and CEO of Ebix, said in a news release. The companies offer complementary products and services that will appeal to health insurers and health information exchanges, according to Ebix.
A.D.A.M. shareholders will receive Ebix stock in return for their shares, leaving them with a 7% stake in the newly combined company.
The boards of directors of both companies have approved the transaction. The deal is subject to approval by A.D.A.M. shareholders and regulatory reviews, including antitrust review under the Hart-Scott-Rodino Act.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.