M&A of the month: Ebix builds up India remittance biz with Paul Merchants deal

When US-based software services provider Ebix Inc. acquired a majority stake in ItzCash Card Ltd for $120 million (Rs 778 crore then) in May, one of its aims was to get a foothold in India’s growing digital payments industry. A second goal was to enter another segment with huge opportunities—remittances.Ebix ......