Intel Capital celebrates an exit as ItzCash is acquired by Ebix for $123m at a valuation of $150m.
India-based payments processing firm ItzCash has been acquired by insurance software developer Ebix for $123m, providing an exit to semiconductor Intel’s corporate venturing arm Intel Capital, according to Inc42.
Ebix now owns an 80% stake in ItzCash, which was valued at $150m for the acquisition. Conglomerate Essel Group will retain the remaining 20% stake in the company.
Founded in 2005, ItzCash offers prepaid debit cards aimed at enterprise users, who can use the cards both online and offline. The company…
