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EbixCash, a fully-owned subsidiary of Nasdaq-listed Ebix Inc, a leading international supplier of on-demand software and e-commerce services to the insurance, financial, healthcare and e-learning industries, on Monday said it has acquired a 70 per cent stake in the 1,800-person, pan-India-based BPO company, AssureEdge Global Services.
AssureEdge will be rebranded as EbixCash Global BPO services. The terms of the deal were not disclosed when contacted, due to confidentiality reasons.
AssureEdge operates via six contact centres across the country. It serves a number of industries and clients that have cross-selling value for EbixCash services. Focussing on sales, fulfilment and customer retention for its clients, it currently services 34+ large corporate clients in the BFSI, telecom, entertainment and e-commerce sectors.
AssureEdge CEO and Founder, Bhupesh Tambe, will continue to lead the company with a 30 per cent stake in the venture. Based on client commitments, AssureEdge is presently committed to growing its employee strength to 2,500 by March 2021. AssureEdge presently generates approximately 30 per cent EBITDA margins.
Robin Raina, Chairman of the Board, President & CEO, Ebix, said in a statement, “AssureEdge can serve to handle fulfilment, collections and last mile delivery for EbixCash, as we converge it with our EbixCash financial and insurance technology platforms. We see AssureEdge serving our pre-sales and post-sales support for the BSE Ebix insurance platform, besides helping us provide an end-to-end fulfilment solution on our lending, wealth management, asset management and credit card processing solutions for banks and financial institutions.”
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