Ebix acquires PlanetSoft for $40M

Ebix, Inc, a NASDAQ-listed supplier of software and e-commerce solutions to the insurance industry, has acquired PlanetSoft, Inc in a cash-plus-stock deal worth $40 million. Founded by Sudhir Bajaj in 1998, PlanetSoft provides IT services for the insurance sector with 90 per cent of its employees ba...