Black Dragon Capital Completes Sale of Indus Software Technologies to Ebix, Inc.

MIAMI, July 25, 2018 /PRNewswire-PRWeb/ -- Black Dragon Capital's founder, managing director and CEO Louis Hernandez Jr., announced the growth-oriented, technology focused private equity fund completed the sale of Indus Software Technologies Pvt. Ltd. to Ebix, Inc. (NASDAQ: EBIX) for $29 million, including $5 million of contingent earnout.

Indus based in Pune India, is a global leader in enterprise lending software solutions for financial institutions, captive auto finance and telecom companies. Black Dragon Capital had purchased the firm in mid-2015.

"Black Dragon Capital has done what we do best: partner with strong leaders with outstanding technology in sectors where we have deep operational and domain expertise. We then implement the Black Dragon Playbooktm and Black Dragon Waytm to create high growth market leading companies," Hernandez said. "Since the calendar year before we acquired Indus, the company has grown revenues by 65 percent and adjusted EBITDA by 90 percent."

"We are proud of Indus' development into a high-growth and profitable company that is a perfect fit for Ebix's performance driven and growth culture. Ebix is acquiring outstanding talent and a clear market leader with a global brand and distribution," he said.

Tim Greenfield, partner at Black Dragon Capital, said, "The Indus management team worked closely with Black Dragon and its advisors to accelerate growth and profits by expanding into new categories and geographies and launching new products. We executed and validated our Playbook focusing the business on the highest growth product sectors and regions and implementing a performance culture to deliver above market growth. I'm very excited for the next phase of growth and development for the partners, clients and team at Indus."

Founded in 1990, Indus offers a specialized suite of products and technology solutions for banking and finance, telecom and insurance industries. With more than 150 enterprise lending implementations in 15 languages across 50 plus countries, Indus derives 56 percent of its revenues from India and the balance coming primarily from Europe, Middle East and South-East Asia. In the financial year 2017, Indus had revenues of $22 million and EBITDA of approximately 17 percent.

Black Dragon Capital is a private equity fund based in Miami, Fla., that is focused on growth investments, particularly in digital commerce, financial services and media technology. Black Dragon's team of industry professionals have significant operational experience, strong financial backgrounds, proven track records of success and investment experience, ranging from startups to billion-dollar organizations in both public and private vehicles. The company leverages its network expertise and deep domain knowledge to assist in accelerating growth and profits in selected markets ? all while working closely with entrepreneurs. Learn more at blackdragoncap.com.

SOURCE Black Dragon Capital