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Here's Raina's latest update on his revenue goals:
"In the last investor call, I indicated our short term goal of reaching annualized revenue run rate of $200 million in 2012 and an aspirational goal of $500 million of revenue in five years. I am pleased to convey that we are now on the path to exceed the first goal of $200 million in annualized revenue run rate... Our ability to generate an annualized EBITDA run rate of ~$100 million, is clearly a landmark event in the company's history. We are committed to using our free cash flow to grow Ebix through reinvestment in the core business and acquisitions as well as return capital to shareholders through stock repurchases and dividends."

This on the heels of his latest acquisition - PlanetSoft - also sans any white shoe Wall Street slickers!

"Robin Raina, Chairman, president and CEO of Ebix, said, “This is a very strategic acquisition for us since the combination of PlanetSoft and Ebix exchange products will give us the unique ability to converge insurance and investment operations from front end to back end while converging lead generation, CRM, quoting, illustration, research, underwriting, compliance, policy issuance, claims, reinsurance, compensation management, agent appointment etc in an end-to-end transaction enabling straight through processing. That simply has never been done earlier across the world by any software vendor in our industry.”

"Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has signed an agreement to acquire PlanetSoft, Inc. effective the 1st of June 2012. The acquisition is expected to be immediately accretive to Ebix Earnings per Share (EPS). The closing is expected to be completed in the next one week, subject to fulfillment of all regulatory and fiduciary approvals on both sides.

With over 14-years of successful experience, PlanetSoft currently services many of the top 20 Life insurance companies in the United States and India, including industry leaders such as Swiss Re, MassMutual, Liberty Mutual, Manulife Financial, Sun Life Financial, Desjardins and New York Max Life. With approximately 575 employees spread across India and the United States, PlanetSoft is in the business of powering data exchanges that streamline core insurance operations in the areas of client acquisition, underwriting, and distribution management.

Under terms of the agreement, Ebix has acquired all of the outstanding capital stock of PlanetSoft for a purchase price payable as follows: $35,000,000 paid in cash at closing, and $5,000,000 payable in the form of 297,265 shares of the common stock of Ebix issued at the time of closing. The deal will also involve earn-out cash payments to PlanetSoft shareholders, based on specific revenue numbers that are achieved in the next twenty-four (24) months. Ebix funded the purchase using a mix of internal cash reserves and the Bank credit line available to Ebix at Libor plus 1.5%. No financial advisors were involved in the transaction from the Ebix side."
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