EBIX stock is still attracting buyers after the company announced a major sponsorship agreement in India on January 21, 2020.
Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it has signed a sponsorship for India’s Tour of New Zealand 2020. Ebix, as part of the deal for the NZC Home Series, will have the status of the ‘Powered By’ sponsor for India’s entire six-week tour of New Zealand.
The Virat Kohli-led India will play Kane Williamson led New Zealand in five T20 Internationals, three One Day Internationals and two Test matches between January 24 and March 4 on their tour of New Zealand. The brand EBIX will have a strong presence on ground across venues during all the three series.
NZ Cricket Board in a statement said, “It’s been an exciting home season for the BLACKCAPS and with teams now looking forward to the T20 World Cup later this year, the five Match T20 Series with India is not only an ideal preparation for our squad but also a tremendous opportunity for fans to enjoy high quality T20 Cricket. We are also looking forward to the One Day and Test sides competing for supremacy to cap off an incredible home season for us where in England, India and Australia have toured our shores. We want to thank the series partners that recognize the global nature of the game and support cricket across boundaries.”
Ebix Chairman and CEO Robin Raina said, “We are delighted to be among the sponsors for the New Zealand-India series. Cricket in India has been the best marketing vehicle for brands. When Virat Kohli and Kane Williams lead two international teams out in the middle, cricket will invoke its ultimate fever. Ebix Group has worked hard to grow up as a reliable brand. We have with us commitment of millions of our committed users across the world. As we are aggressively expanding to new territories and new client base, we are glad to be associated with the Black Caps and New Zealand Cricket as sort of marketing associates in the growth.”
Ebix has businesses in many cricket loving nations like India, New Zealand, Australia and UK etc. and thus engages in sports advertising and promotion to promote its B2C and B2B businesses. India will start their New Zealand tour with the first T20 International on 24th January in Auckland.
On January 15, 2020, EbixCash, a fully owned subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced a strategic travel technology partnership with Amadeus to grow its footprint across the Asia Pacific region and UAE and become a one-stop shop for travel.
Please note, we expect travel stocks to be under pressure due to the coronavirus outbreak in China that is spreading to other countries.
With 210K travel agents to service and 4.5 million users of its travel app, EbixCash needs access to an extensive range of content and the best, scalable technology to deliver what its agents, corporations and travelers need. The partnership will provide EbixCash’s online websites, travel agents and corporations in Asia Pacific and UAE with greater access to the unrivalled breadth of content offered by the Amadeus Travel Platform, enabling EbixCash to better serve its customers. Built on fully open systems, the Amadeus Travel Platform harnesses artificial intelligence to bring a greater level of personalized content into one integrated platform.
Mr. Robin Raina, Chairman of the Board, President & CEO, Ebix, said: “Our vision is to build an end-to-end travel solution for the industry. We want to empower travel agents and travellers alike. EbixCash today is the largest end-to-end financial exchange in the Indian sub-continent, besides its parent company Ebix being the largest insurance exchange in the world. We are always looking for new ways to stay ahead of our competitors. Partnering with Amadeus gives us access to innovative technology that will allow us to further expand our footprint across the region, especially in India, Thailand, the Philippines, Indonesia, Singapore, Dubai and Abu Dhabi, where we see the greatest potential.”
“Our growth strategy is built on the premise of having an unrivalled ‘phygital’ presence in the region – combining our physical distribution outlets in Southeast Asia with an omnichannel digital presence that allows our seller partners to have access to extensive real-time data and ecommerce solutions across all digital channels. Amadeus’ technology empowers EbixCash to deliver this and truly become a one-stop shop for travel.”
Champa Magesh, Executive Vice President of Retail in Travel Channels and Managing Director EMEA, Amadeus, said: “Partnerships are the foundation of progress. As EbixCash’s preferred travel technology partner, we are proud to support the company’s strategy to deliver increasing personalized experiences across all travel touchpoints in APAC and UAE. Amadeus’ open, collaborative approach allied with the scale, efficiency and performance offered by our Travel Platform means that we remain best placed to support our travel sellers — and their travelers — as they navigate the changing travel landscape.”
The Amadeus Travel Platform gives travel sellers access to additional and diverse content, including accommodation and ground transportation, so that travel sellers can remain competitive and sell travel in an efficient and personalized way.
On January 13, 2020, EbixCash, a wholly-owned subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services, together with MoneyGram International, Inc. (NASDAQ: MGI), a global provider of innovative money transfer services, announced a strategic partnership to bring enhanced services to millions of consumers across India.
Details of the strategic partnership include:
MoneyGram has appointed EbixCash as its exclusive partner in India
MoneyGram will now be able to reach additional consumers through Ebix’s 320,000 distribution outlets spread across 768 districts, 4,000 cities, and more than 75,000 villages – significantly increasing coverage in rural areas
EbixCash customers in these locations can now access the MoneyGram platform to quickly and conveniently receive money from family and friends around the world
The strategic partnership aims to service inward remittance volumes of $3 billion annually by targeting remitters in key sending markets outside India
“MoneyGram is focusing on diversification by investing in both its digital business and in key international markets such as India,” said Alex Holmes, MoneyGram Chairman and Chief Executive Officer. “Partnering with the largest financial exchange in the country is an important milestone, and we are excited to enable EbixCash to plug into the MoneyGram platform to access our customer-centric capabilities and services.”
Robin Raina, Ebix Inc. Chairman, President and Chief Executive Officer said, “We are excited with the nature of this strategic partnership which is a win-win for both sides. Being a master agent for MoneyGram, our interests will now be perfectly aligned to ensure that MoneyGram’s reach is spread across the length and breadth of India through our strong franchisee network. We see this as a game changing deal on many fronts for us and will thus put all of our might behind this partnership.”
“India remains the world’s top recipient of remittances, and we’re excited to better serve this critical market through our partnership with EbixCash, a leading brand with an approximate 80% share of locations in the country,” added Grant Lines, MoneyGram Chief Revenue Officer.