Atlanta-based Ebix, a software and e-commerce services supplier for the insurance industry, has completed its acquisition of A.D.A.M., an online technology services company also based in Atlanta. The deal, valued at $66 million, will help Ebix extend its reach into the health information and health services markets for employers, insurance carriers and benefit brokers, according to an Ebix news release.
Ebix closes acquisition of A.D.A.M.
The two companies announced the planned deal in August 2010.
Because the two companies serve such similar markets and are both based in Atlanta, the acquisition will also facilitate "substantial cost synergies," according to the release.
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