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EBIX EXITS CHAPTER 11 AND IS DEBT FREE WORLDWIDE NOW

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JOHNS CREEK, Ga. and NOIDA, India, Sept. 3, 2024 /PRNewswire/ — Ebix Inc., a leading international supplier of on-demand software and e-commerce services to the insurance, financial, healthcare, and e-learning industries, announced today that it has successfully completed its Chapter 11 restructuring process and has emerged as a financially and operationally stronger company that is well-positioned for the future. The 12,000+ employee Company is now debt-free worldwide.

On Friday, August 30, 2024 (the “Effective Date”), Ebix exited Chapter 11 in a record period of less than 9 months and the restructuring plan blessed by the US courts became effective. Earlier, on August 2, 2024 the Court had confirmed the plan, commending the parties for a ‘marvelous job’ done. This complex, cross-border matter resolution involved Sidley lawyers and staff from the New York, Chicago, Los Angeles, Century City, Houston, Dallas, Washington, D.C., San Francisco, London, Singapore, and Hong Kong offices; besides professionals from multiple multinational accounting and investment banking firms.

Ebix is one of the few rare companies that entered Chapter 11 with a trailing 12-month EBITDA of approximately $145 million, on account of non-operating loans being called by its lenders. With 23-years of consistently profitable results and a shareholder return of 27,500% at one time, Ebix‘s entry into Chapter 11 on non-operating grounds was sudden and rather unexpected. Today, when Ebix has exited Chapter 11, it has reason to feel confident about its future on various grounds –

Consolidation into Eraaya – With Eraaya LifeSpaces Limited (‘Eraaya’) emerging as the successful plan sponsor, Ebix Inc worldwide results will now be consolidated into Eraaya, a publicly traded company on the Bombay Stock Exchange (BSE: ERAAYA). Ebix will continue to be a US domiciled company, following the laws of the respective international geographies it operates in. Eraaya’s investment into Ebix will not affect any of Ebix’s responsibilities adversely in any geography, as the Company will continue to operate as usual.Visionary Leadership to Continue – Ebix Founder, Robin Raina, will continue to serve as CEO and Chairman of Ebix. A visionary entrepreneur who is the brain behind the Ebix worldwide franchise, Robin Raina has pioneered innovative concepts that propelled Ebix to be featured five times on Fortune’s 100 Fastest Growing Companies list. With a remarkable 23-year track record of profitability and delivering over 275x shareholder return at one time, Robin Raina epitomizes consistent financial discipline.Integrated Group Vision – With the goal of ensuring maximization of shareholder return for Eraaya shareholders, and to deliver world-class compliance and consistent growth & profitability, Robin Raina has also been appointed as the Chairman of the Board for Eraaya.Continued Focus on Clients – Ebix, Inc will continue to be a US Company, ensuring continuity and world-class products & services to its client base in the United States that encompasses state governments, 80 of the Fortune 500 companies, medical schools, hospitals, doctors, and tens of thousands of insurance entities including insurers, brokers, TPAs, Banks etc. All US contracts will continue to be serviced from the US company, with no changes to the Company’s tax ID, workers compensation or clients’ agreements, that will continue to be serviced following US law as usual.Consistent Continued Leadership – Ebix’s international subsidiaries across the world that service clients in more than 75 countries today, will continue to operate as usual. Ebix’s entire international senior management that has spearheaded Ebix’s growth and profitability story for more than two decades, will continue as usual and will lead Ebix through its future growth. All international client agreements will continue to be serviced as such, following the existing client and partner agreements under the laws of the respective country, while being serviced by the same Ebix personnel who have always been interacting with clients, as usual.EbixCash Growth Story Continues – Ebix’s Indian EbixCash operations will continue as usual. With a ‘Phygital’ strategy that combines over 650,000 physical distribution outlets in India and many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), travel, pre-paid gift cards, utility payments, lending and wealth management across 75+ countries including India. EbixCash’s Forex operations are carried out primarily through 82 retail branches, retail kiosks in 28 international airports, including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, 12 seaports, over 250 franchise partners across 69 cities, as well as offered through more than 1200 corporate clients, more than 27 bank clients, and 5-star hotels in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of the leading non-bank travel exchanges based in India and catering to approximately 517,000 agents and approximately 17,900 registered corporate clients. EbixCash’s financial technologies business offers software solutions at the enterprise level for banks, asset and wealth management companies and trust companies across 75+ countries. EbixCash’s Bus Exchange business delivers on-demand technology solutions to power information technology across 14+ state roadways corporations and tens of thousands of buses. EbixCash’s business process outsourcing services provide information technology and call center services to a variety of industries.Debt-Free Company – Ebix now is debt free worldwide. With a clean balance sheet, an 85% recurring revenue business, a 23-year history of delivering consistent profitability and operating cash flows, the Company seems well positioned now to embark on its goal of delivering strong EBITDA and cash flows again.International Backing – As a true international Company with a multinational DNA helical structure, Ebix continues to secure international backing for its international expansion, future acquisition strategy and the stated goal of a diversified investor base. As a part of that endeavor, Ebix has already secured investments from marquee US investors Watch Hill Capital and Melanie Lane Partner Series. The intent of Eraaya and Ebix is to continue to grow its international investor base.

Ebix CEO and Chairman, Robin Raina said, “Today marks a significant milestone in Ebix’s 48-year history. Through the relentless efforts of our team of advisors and employees worldwide, we are moving forward in an incredibly strong market position with an exciting road ahead of us. Now with a solid financial foundation, a leaner, more efficient operating model, and plans to raise more liquidity to invest in our business, Ebix has outstanding potential to drive long-term profitable growth. Both in the US and around the world, we are poised to capitalize on our industry leadership, deep operational expertise and our iconic global brand.”

Robin said, “Ebix 2.0 intends to be lean, efficient, and focused on consistent profitable growth. We are aware that our strength is our focus on pioneering world leading on-demand software Exchanges, our distribution reach, our understanding of worldwide regulations, our dominance in various sectors in specific geographies and the barriers to entry in the highly regulated sectors that we operate in. We intend to leverage all these strengths while continuing to deliver world-class services to our clients worldwide.”

Robin added, “I am quite confident that this is only the beginning phase of delivering even greater value to our stakeholders. Thank you to the Ebix team around the world and to our new investor group, and to our customers, franchisees, providers and partners for your confidence and support during this process. I must add that as the Eraaya Chairman, I am equally committed to delivering consistent profitability, growth and shareholder return to the Eraaya investor base also.”

About Ebix, Inc.

With approximately 200 offices across 6 continents, Ebix, Inc., endeavors to provide on-demand infrastructure exchanges to the insurance, financial services, travel, and healthcare industries.

With a ‘Phygital’ strategy that combines over 650,000 physical distribution outlets in India and many Southeast Asian Nations (‘ASEAN’) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), travel, pre-paid gift cards, utility payments, lending and wealth management across 75+ countries including India. EbixCash’s Forex operations are carried out primarily through 82 retail branches, 62 retail kiosks in 16 international airports, including Delhi, Mumbai, Hyderabad, Chennai and Kolkata, 12 seaports, over 250 franchise partners across 69 cities, as well as offered through more than 1200 corporate clients, more than 27 bank clients, and 5-star hotels in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of the leading non-bank travel exchanges based in India and catering to approximately 517,000 agents and approximately 17,900 registered corporate clients. EbixCash’s financial technologies business offers software solutions at the enterprise level for banks, asset and wealth management companies and trust companies within India, Southeast Asia, the Middle East and Africa. EbixCash’s business process outsourcing services provide information technology and call center services to a variety of industries.

Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com  

 

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LG Electronics and Samsung Unveil Cutting Edge Shoppable TV Capabilities Powered by TheTake.AI at CES 2025

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LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — TheTake, the leader in AI-powered shoppable TV technology, today announced groundbreaking partnerships with LG Electronics and Samsung Electronics at the 2025 Consumer Electronics Show (CES) in Las Vegas. These collaborations significantly expand TheTake’s reach and capabilities, further solidifying its position as the premier platform for interactive, shoppable television experiences.

Building on TheTake’s impressive multiplatform footprint of 32 million devices and exceptional user engagement achieved in 2024, these partnerships represent a major leap forward for the Shoppable TV space.

LG Electronics Integrates ‘Click to Search’ Functionality
LG Electronics showcased an innovative ‘Click to Search’ feature powered by TheTake’s cutting-edge real-time AI shopping technology. The functionality enables LG viewers to instantly search for and identify virtually any person or product on screen by simply clicking on them with their LG Magic Remote. Viewers can then shop all their favorite products through a seamless and secure purchase flow, completing transactions effortlessly with LG’s webOS Pay functionality.

“Our partnership with LG Electronics is a testament to the power of AI in transforming how viewers engage with content on television,” said Tyler Cooper, CEO of TheTake. “By integrating our real-time shopping technology with LG’s innovative Magic Remote, we’re making it easier than ever for viewers to bring the products they love into their lives.”

Samsung Electronics Introduces Revolutionary Shoppable TV Features
Samsung Electronics, in partnership with TheTake, unveiled a suite of groundbreaking shoppable TV experiences.

Trending TV Shopping – Viewers can browse and shop for trending products appearing in today’s top linear and streaming programming directly through their Samsung TVs.Enhanced Shopping via Daily+ and Daily Board Interfaces – Samsung’s unique interfaces allow for highly engaging experiences, providing brands with unparalleled opportunities to reach high intent audiences in a premium CTV environment.

“Our partnership with Samsung Electronics represents a huge step forward for TheTake,” said Tyler Cooper, CEO of TheTake. “By leveraging Samsung’s innovative interfaces, we’re able to deliver high intent, engaging shopping experiences to consumers and brands alike.”

Driving Innovation and Market Leadership
Together, LG and Samsung account for a combined 59% of the U.S. smart TV market share, positioning TheTake as the leader in the fast-evolving Shoppable TV space. These collaborations follow TheTake’s 2024 partnership announcements with global sports streaming giant DAZN and emerging smart TV OEM Telly.

About TheTake
TheTake’s AI-powered technology is redefining how consumers interact with television by transforming passive viewing into an engaging, shoppable experience. With these new partnerships, TheTake continues to innovate and lead the charge in making TV content actionable for viewers and brands.

For More Information
Contact: info@thetake.com
Visit: [www.thetake.ai](http://www.thetake.ai)

Press Contacts:
TheTake Public Relations Team
press@thetake.com

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Reolink Debuts 16MP Wi-Fi Camera & Continuous Recording Battery Cam Series at CES 2025

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LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — Reolink, an innovative leader in intelligent visual technology for the home, today launches the Duo 3 WiFi at CES 2025. It is a 16MP UHD plug-in Wi-Fi camera with expansive 180° panoramic view, a new addition to Reolink’s groundbreaking 16MP series. Reolink also announces to release a new product line-up, the Altas Series – a range of battery-powered cameras designed for 24/7 continuous recording on a single charge. These new products underscore the company’s commitment to driving home security forward and enhancing daily life with user-centric innovation.

Reolink Duo 3 WiFi: 16MP Crystal-Clear Details and 180° Coverage
Struggling with blurry details, blind spots, or slow streaming? Reolink Duo 3 WiFi solves these issues perfectly. With its 16MP UHD clarity and dual 4K sensors, the Duo 3 WiFi stands out capturing the finest details and identifying objects within the surveillance area. Users can manually zoom in on the captured footage to discern intricate details like distant license plates. With the industry-leading image stitching algorithm technology, this dual-lens camera seamlessly merges two images into one with virtually minimal distortion and provides a seamless 180° ultra wide view, ensuring a complete coverage of home or business.

The Duo 3 WiFi also features the dual-band Wi-Fi 6 capability, supporting both 2.4GHz and 5GHz frequencies for faster and more stable live streaming. Besides, the Motion Track condenses 15 seconds of motion events into one single image, facilitating users to review recent events without spending hours of sifting through recordings.

With all these features, this camera is ideal for both home and outdoor surveillance, providing detailed and complete security for large yards, wide parking lots, extended driveways and more.

Starting today, the Duo 3 WiFi is available for purchase in North America and Europe, with MSRP at $179.99 and €189.99. Customers can buy it from the Reolink website and Amazon.

Altas Series: Round-the-Clock Protection
Last September, Reolink launched the Altas PT Ultra, an industry-leading 4K continuous recording battery camera with a 360° blindspot-free view. Since the product’s release, the company has continued striving for excellence, extending the recording time from 96-hours on a single charge to 24/7 – perfectly meeting users’ demand for around-the-clock protection.

Reolink today introduces the new Altas Series, the world’s first 24/7 continuous recording battery-powered camera lineup, including the bullet-style 2K Altas with WiFi connectivity, the 4G battery camera Altas Go PT with a 360° blindspot-free view, and a future upgraded version for Altas PT Ultra with 24/7 continuous recording capability. Whether in on-grid or off-grid environments, the Altas Series’ products meet the needs of users.

With battery capacity of 20,000 mAh, Altas series provides 24-hour continuous recording per day for up to 7 days, thanks to an innovative low power consumption solution. When paired with a solar panel, it ensures continuous recording around the clock without the need of manually recharging[1].

With a new generation of system-on-chip (SoC), these cameras can achieve pre-recording functionality, capturing 10 seconds of footage before an event is detected. Additionally, Reolink’s ColorX technology, which combines an ultra-large F1.0 aperture with a 1/1.8” sensor, ensures vibrant, full-color images both day and night, delivering four times more light than traditional infrared cameras.

To learn more about Reolink and its new products, please visit its booth at Venetian Expo, Hall A-D 52747 during CES 2025. For more information, please visit: https://reolink.com/visit-reolink-at-ces/.

About Reolink
Reolink offers smart security solutions for homes and businesses, aiming for a seamless security experience with its wide range of products. Serving millions globally, it provides video surveillance and protection, standing out for its commitment to security technology innovation.

[1] Solar panels come as standard for this series. 2 hours of daily sunlight for a 6W Solar Panel is required for continuous recording or pre-recording; while 1 hour of daily sunlight for a 12W Solar Panel is required for continuous recording and pre-recording.

 

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Output Management Software Market to Grow by USD 10.67 Billion (2025-2029), Driven by Healthcare Adoption and AI-Driven Market Transformation – Technavio

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NEW YORK, Jan. 7, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global output management software market size is estimated to grow by USD 10.67 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 3%  during the forecast period. Increased use of output management software solutions in healthcare industry is driving market growth, with a trend towards outsourcing of output management services. However, growing concerns over data security  poses a challenge. Key market players include Broadcom Inc., CSG Systems International Inc., DOCPATH DOCUMENT SOLUTIONS SL, HP Inc., ISIS Papyrus Europe AG, kuhn and weyh Software GmbH, Kyocera Corp., LBM Systems LLC, LEVI RAY AND SHOUP INC., Lexmark International Inc., Open Text Corp., Pitney Bowes Inc., Plus Technologies LLC, QUADIENT, Ricoh Co. Ltd., Rochester Software Associates Inc., SEAL Systems AG, Stargel Office Solutions, Symtrax, and UNICOM .

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Output Management Software Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2025-2029

USD 10669.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.9

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 42%

Key countries

US, China, Germany, Japan, Canada, UK, India, France, Italy, and Saudi Arabia

Key companies profiled

Broadcom Inc., CSG Systems International Inc., DOCPATH DOCUMENT SOLUTIONS SL, HP Inc., ISIS Papyrus Europe AG, kuhn and weyh Software GmbH, Kyocera Corp., LBM Systems LLC, LEVI RAY AND SHOUP INC., Lexmark International Inc., Open Text Corp., Pitney Bowes Inc., Plus Technologies LLC, QUADIENT, Ricoh Co. Ltd., Rochester Software Associates Inc., SEAL Systems AG, Stargel Office Solutions, Symtrax, and UNICOM Global

Market Driver

The Output Management Software Market is witnessing significant growth due to the increasing trend towards digital transformation in various industries. Document management, email communications, and portals are key areas where output management software is being adopted. Large Enterprises in sectors like healthcare, education, banking, and IT are automating paperwork and printing of documents using workflow management systems and printing tools. Customer relationship management and enterprise resource planning systems are also integrating output management capabilities. Automation of administrative tasks, printing of system-generated documents, and outsourcing of printing are driving the market. Cloud-based and on-premises solutions cater to different business needs. Trends such as paperless operations, personalizing output communications, and e-commerce integration are gaining traction. The manufacturing sector is adopting output management software for automating manual tasks and improving business continuity planning. Sustainable development and cybersecurity concerns are also influencing the market. Cloud-based technologies, software compatibility, data access, and data theft are key considerations for businesses. The market is expected to grow further with the adoption of big data analytics and Internet of Things technologies. Electronic documents, invoices, and printed letters are common use cases for output management software. Digital transformation initiatives are driving the demand for efficient and secure output management solutions. 

The output management software market is witnessing a significant trend with companies outsourcing print-related activities to Asia. This includes tasks such as document management and the printing process. By outsourcing these functions, firms can concentrate on their core competencies, like research and development and product creation. The Asia Pacific region is a major hub for this outsourcing activity, leading to a heightened demand for output management software in this area. A substantial portion of outsourcing is focused on operational print activities, involving materials like memos, brochures, stationery, and manuals. 

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 Market Challenges

•         The Output Management Software Market faces various challenges in document management, particularly with emails, portals, and paperwork. Large Enterprises in industries like healthcare, education, banking, and IT deal with numerous administrative tasks, printer management, and workflow systems. Printing of documents, customer relationship management, and enterprise resource planning add to the complexity. Automation of manual tasks and personalizing output communications are key to digital transformation initiatives. Challenges include software compatibility, data access, and security concerns such as data theft and cyber security. System-generated documents and outsourcing require careful consideration. Paperless operations are a goal, but printing remains necessary for some industries and applications. Sustainable development and e-commerce industries also impact the market. Cloud-based and on-premises solutions offer benefits, with cloud-based technologies gaining popularity. Services like electronic documents and big data analytics are transforming business processes. The market must address challenges in printing tools, electrical forms, operating systems, and IT industry standards. Manufacturing industries seek to automate manual tasks and personalize output communications. Internet of Things integration and business continuity planning are essential for future growth. Overall, the Output Management Software Market must adapt to meet the evolving needs of various industries and businesses.

•         Output management software plays a crucial role in facilitating data transfer between input and output devices in businesses. However, the security of this data is a significant concern, especially in sectors like healthcare and BFSI. Output devices, such as Multi-Function Printers (MFPs), are potential entry points for security breaches. Vendors offer secure data transfer solutions, but these come with a higher price tag. Companies must carefully weigh the benefits of output management software against the potential risks and costs. Effective data security measures are essential to protect a company’s vital information and maintain its brand reputation.

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Segment Overview 

This output management software market report extensively covers market segmentation by  

End-user 1.1 BFSI1.2 Healthcare1.3 Manufacturing1.4 OthersDeployment 2.1 Cloud2.2 On-premisesGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 BFSI-  In the banking, financial services, and insurance (BFSI) sector, output management software plays a crucial role in handling sensitive documents securely and complying with industry regulations. With a substantial volume of documents daily, output management software is essential for document scanning, optical character recognition (OCR), and form processing solutions. This software helps BFSI organizations achieve better security, cost reduction, and improved traceability. Additionally, it facilitates personalized and timely customer communication, enhancing the overall customer experience and satisfaction. Financial institutions require multi-channel document delivery, and output management software enables seamless delivery via preferred channels. JPMorgan Chase and Wells Fargo are prominent users, streamlining document workflows and managing diverse document types. RBC Capital Markets reduced costs by 30% using HP Managed Print Services, addressing challenges like high printing requirements, obsolete devices, and frequent repairs. The BFSI sector’s focus on document security, compliance, digital transformation, efficient document workflows, and cost reduction will fuel the demand for output management software, boosting the BFSI segment’s growth in the market.

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Research Analysis

The Output Management Software market is a significant segment of the IT industry, focusing on managing and optimizing the production, delivery, and archiving of various types of business documents. This software plays a crucial role in streamlining document-intensive processes, reducing manual tasks, and enhancing business efficiency. The market caters to various sectors, including the document management, customer relationship management, enterprise resource planning, E Commerce industry, and more. Output Management Software supports multiple formats, including emails, portals, paperwork, and electronic documents. Key applications include printing, personalizing output communications, and ensuring business continuity planning. It is essential for industries dealing with large volumes of paperwork, such as financial services, healthcare, and government, to adopt Output Management Software for sustainable development and cost savings. Moreover, the software supports digital transformation initiatives by enabling seamless integration with Operating Systems and other business applications, ensuring the secure and timely delivery of information to various stakeholders. The market is witnessing significant growth due to the increasing demand for efficient document management, reducing reliance on printed letters, invoices, and other physical documents.

Market Research Overview

The Output Management Software market encompasses solutions that manage and automate the production and delivery of various forms of business documents, including emails, portals, and printed documents. These systems streamline administrative tasks, such as document management, workflow management, and customer relationship management, in industries like healthcare, education, banking, and IT. Automation of printing tools and the integration with ERP and CRM systems are key features. Cloud-based and on-premises solutions cater to large enterprises and small businesses, offering paperless operations and sustainable development. Services range from document creation to data access and security, including system-generated documents, outsourcing, and compliance with operating systems and software compatibility. Output Management Software supports digital transformation initiatives, enabling personalizing output communications, e-commerce, and business continuity planning. Big data analytics and IoT integration add value, while addressing concerns like data theft and cybersecurity. The market continues to evolve, offering innovative solutions for various industries and use cases.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userBFSIHealthcareManufacturingOthersDeploymentCloudOn-premisesGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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