Ebix shells out $50M SmartOffice provider E-Z Data

E-Z Data Inc. —the company behind SmartOffice a web-based customer relationship management application used by investment advisers— was acquired today by Ebix, Inc. for $50 million.
OCT 01, 2009
E-Z Data Inc. —the company behind SmartOffice a web-based customer relationship management application used by investment advisers— was acquired today by Ebix, Inc. for $50 million. Ebix Inc. is an international supplier of online applications and e-commerce services to the insurance industry. E-Z Data’s customer relationship management software is used widely in the insurance industry — a prepared statement from Ebix states that more than 250,000 professionals are using it worldwide, including insurance companies, general agents, banks, investment dealers, agents, and financial advisers. As part of the prepared statement, Robin Raina, chief executive of Ebix was quoted as saying that the acquisition represented a strategic move on her company’s part because it would “…provide us access to a majority of the life and annuity brokers’ desktops in the United States.” In our 2008 technology survey of advisers InvestmentNews found that 7% of the 242 respondents were using CRM from EZ Data.

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.