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| R      |   | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|   |   | For the quarterly period ended June 30, 2011 |

|   |
|---|
|   |  |  |
| o |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

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|--------------------------------------------------|
|                                                  |  |  |
|                                             |   |   |
| DELAWARE                                         |   | 77-0021975 |
| (State or other jurisdiction of incorporation or |   | (I.R.S. Employer Identification No.) |
| organization)                                    |   |   |
|                                             |   |   |
| 5 CONCOURSE PARKWAY, SUITE 3200                  |   |   |
| ATLANTA, GEORGIA                                 |   | 30328 |
| (Address of principal executive offices)         |   | (Zip Code) |

|                           |
|---------------------------|
|                           |  |  |  |  |  |  |
| Large accelerated filer o |   | Accelerated filer R |   | Non-accelerated filer o (Do not check if a smaller reporting company) |   | Smaller reporting company o |

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|        |  |  |  |  |
|   |   |   |   |   |

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|--------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                            |  |
|                                                                                                                                       |   |
| PART I — FINANCIAL INFORMATION                                                                                                       |   |
|                                                                                                                                       |   |
| Item 1. Consolidated Financial Statements                                                                                             |   |
|                                                                                                                                       |   |
| Condensed Consolidated Statements of Income for the three and six months ended June 30, 2011 and 2010 (unaudited)                          | 2 |
|                                                                                                                                       |   |
| Condensed Consolidated Balance Sheets at June 30, 2011 (unaudited) and December 31, 2010                                         | 3 |
|                                                                                                                                       |   |
| Condensed Consolidated Statement of Stockholders’ Equity and Comprehensive Income for the six months ended June 30, 2011 (unaudited) | 4 |
|                                                                                                                                       |   |
| Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2011 and 2010 (unaudited)                                | 5 |
|                                                                                                                                       |   |
| Notes to Condensed Consolidated Financial Statements (unaudited)                                                                           | 6 |
|                                                                                                                                       |   |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations                                   | 15 |
|                                                                                                                                       |   |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                                                    | 24 |
|                                                                                                                                       |   |
| Item 4. Controls and Procedures                                                                                                       | 25 |
|                                                                                                                                       |   |
| PART II — OTHER INFORMATION                                                                                                          |   |
|                                                                                                                                       |   |
| Item 1. Legal Proceedings                                                                                                             | 25 |
|                                                                                                                                       |   |
| Item 1A. Risk Factors                                                                                                                 | 25 |
|                                                                                                                                       |   |
| Item 2. Repurchases of Equity Securities                                                                                              | 26 |
|                                                                                                                                       |   |
| Item 3. Defaults upon Senior Securities                                                                                               | 26 |
|                                                                                                                                       |   |
| Item 6. Exhibits                                                                                                                      | 26 |
|                                                                                                                                       |   |
| SIGNATURES                                                                                                                                 | 27 |
|                                                                                                                                       |   |
| EXHIBIT INDEX                                                                                                                              |   |
|                                                                                                                                       |   |
|  Exhibit 31.1                                                                                                                         |   |
|  Exhibit 31.2                                                                                                                         |   |
|  Exhibit 32.1                                                                                                                         |   |
|  Exhibit 32.2                                                                                                                         |   |

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Table of Contents

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|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        | Three Months Ended |   | Six Months Ended |
|                                        | June 30, |   | June 30, |
|                                        | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Operating revenue                           | $ | 42,267 |  |   | $ | 32,207 |  |   | $ | 82,317 |  |   | $ | 63,810 |  |
| Operating expenses:                         |   |   |   |   |   |   |   |
|                                        |   |   |   |   |   |   |
| Cost of services provided                   | 8,914 |  |   | 7,427 |  |   | 16,221 |  |   | 14,490 |  |
| Product development                         | 4,802 |  |   | 3,571 |  |   | 9,421 |  |   | 6,934 |  |
| Sales and marketing                         | 3,261 |  |   | 1,748 |  |   | 6,113 |  |   | 3,074 |  |
| General and administrative                  | 4,694 |  |   | 5,005 |  |   | 12,455 |  |   | 10,665 |  |
| Amortization and depreciation               | 1,991 |  |   | 1,448 |  |   | 3,868 |  |   | 2,880 |  |
| Total operating expenses                    | 23,662 |  |   | 19,199 |  |   | 48,078 |  |   | 38,043 |  |
|                                        |   |   |   |   |   |   |
| Operating income                            | 18,605 |  |   | 13,008 |  |   | 34,239 |  |   | 25,767 |  |
| Interest income                             | 129 |  |   | 127 |  |   | 329 |  |   | 215 |  |
| Interest expense                            | (159 | ) |   | (246 | ) |   | (374 | ) |   | (514 | ) |
| Other non-operating income (losses)         | (464 | ) |   | 1,444 |  |   | (818 | ) |   | 1,761 |  |
| Foreign currency exchange gain              | 1,397 |  |   | 233 |  |   | 2,865 |  |   | 336 |  |
| Income before income taxes                  | 19,508 |  |   | 14,566 |  |   | 36,241 |  |   | 27,565 |  |
| Income tax benefit (expense)                | 2,840 |  |   | (556 | ) |   | 1,271 |  |   | (1,171 | ) |
| Net income                                  | $ | 22,348 |  |   | $ | 14,010 |  |   | $ | 37,512 |  |   | $ | 26,394 |  |
|                                        |   |   |   |   |   |   |   |
| Basic earnings per common share             | $ | 0.57 |  |   | $ | 0.40 |  |   | $ | 0.97 |  |   | $ | 0.76 |  |
|                                        |   |   |   |   |   |   |   |
| Diluted earnings per common share           | $ | 0.53 |  |   | $ | 0.36 |  |   | $ | 0.90 |  |   | $ | 0.67 |  |
|                                        |   |   |   |   |   |   |   |
| Basic weighted average shares outstanding   | 39,159 |  |   | 34,958 |  |   | 38,658 |  |   | 34,853 |  |
|                                        |   |   |   |   |   |   |   |
| Diluted weighted average shares outstanding | 42,344 |  |   | 39,275 |  |   | 41,882 |  |   | 39,305 |  |

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|                                                                                                                                                                                                       |  |  |  |  |  |  |  |
|                                                                                                                                                                                                  | June 30, 2011 |   | December 31, 2010 |
| ASSETS                                                                                                                                                                                                | (Unaudited) |   |   |
| Current assets:                                                                                                                                                                                       |   |   |   |
| Cash and cash equivalents                                                                                                                                                                             | $ | 23,627 |  |   | $ | 23,397 |  |
| Short-term investments                                                                                                                                                                                | 1,780 |  |   | 6,300 |  |
| Trade accounts receivable, less allowances of $1,766 as of June 30, 2011 and $1,126 as of December 31, 2010                                                                                           | 32,829 |  |   | 26,028 |  |
| Deferred tax asset, net                                                                                                                                                                               | 3,174 |  |   | — |  |
| Other current assets                                                                                                                                                                                  | 5,305 |  |   | 5,057 |  |
| Total current assets                                                                                                                                                                                  | 66,715 |  |   | 60,782 |  |
|                                                                                                                                                                                                  |   |   |   |
| Property and equipment, net                                                                                                                                                                           | 9,171 |  |   | 7,806 |  |
| Goodwill                                                                                                                                                                                              | 245,749 |  |   | 180,602 |  |
| Intangibles, net                                                                                                                                                                                      | 40,187 |  |   | 22,574 |  |
| Indefinite-lived intangibles                                                                                                                                                                          | 31,278 |  |   | 30,552 |  |
| Deferred tax asset, net                                                                                                                                                                               | 7,110 |  |   | — |  |
| Other assets                                                                                                                                                                                          | 1,084 |  |   | 984 |  |
| Total assets                                                                                                                                                                                          | $ | 401,294 |  |   | $ | 303,300 |  |
|                                                                                                                                                                                                  |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                                            |   |   |   |
| Current liabilities:                                                                                                                                                                                  |   |   |   |
| Accounts payable and accrued liabilities                                                                                                                                                              | $ | 13,076 |  |   | $ | 15,344 |  |
| Accrued payroll and related benefits                                                                                                                                                                  | 4,907 |  |   | 4,536 |  |
| Short term debt                                                                                                                                                                                       | 6,664 |  |   | 5,000 |  |
| Convertible debt, net of discount of $0 as of June 30, 2011 and $56 as of December 31, 2010                                                                                                           | — |  |   | 4,944 |  |
| Current portion of long term debt and capital lease obligations                                                                                                                                       | 186 |  |   | 426 |  |
| Deferred revenue                                                                                                                                                                                      | 14,780 |  |   | 8,610 |  |
| Current deferred rent                                                                                                                                                                                 | 235 |  |   | 207 |  |
| Put option liability                                                                                                                                                                                  | 1,462 |  |   | — |  |
| Other current liabilities                                                                                                                                                                             | 184 |  |   | 18 |  |
| Total current liabilities                                                                                                                                                                             | 41,494 |  |   | 39,085 |  |
|                                                                                                                                                                                                  |   |   |   |
| Revolving line of credit                                                                                                                                                                              | 8,750 |  |   | 25,000 |  |
| Long term debt and capital lease obligations, less current portion                                                                                                                                    | 11,860 |  |   | 205 |  |
| Other liabilities                                                                                                                                                                                     | 3,654 |  |   | 2,991 |  |
| Deferred tax liability, net                                                                                                                                                                           | — |  |   | 3,534 |  |
| Put option liability                                                                                                                                                                                  | — |  |   | 537 |  |
| Deferred revenue                                                                                                                                                                                      | 139 |  |   | 126 |  |
| Long term deferred rent                                                                                                                                                                               | 1,080 |  |   | 554 |  |
| Total liabilities                                                                                                                                                                                     | 66,977 |  |   | 72,032 |  |
|                                                                                                                                                                                                  |   |   |   |
| Commitments and Contingencies, Note 6                                                                                                                                                                 |  |   |  |
|                                                                                                                                                                                                  |   |   |   |
| Stockholders’ equity:                                                                                                                                                                           |   |   |   |
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at June 30, 2011 and December 31, 2010                                                             | — |  |   | — |  |
| Common stock, $0.10 par value, 60,000,000 shares authorized, 38,525,004 issued and 38,484,495 outstanding at June 30, 2011 and 36,057,791 issued and 36,017,282 outstanding at December 31, 2010 | 3,843 |  |   | 3,602 |  |
| Additional paid-in capital                                                                                                                                                                            | 213,635 |  |   | 153,221 |  |
| Treasury stock (40,509 shares as of June 30, 2011 and December 31, 2010)                                                                                                                         | (76 | ) |   | (76 | ) |
| Retained earnings                                                                                                                                                                                     | 105,154 |  |   | 67,642 |  |
| Accumulated other comprehensive income                                                                                                                                                                | 11,761 |  |   | 6,879 |  |
| Total stockholders’ equity                                                                                                                                                                      | 334,317 |  |   | 231,268 |  |
| Total liabilities and stockholders’ equity                                                                                                                                                      | $ | 401,294 |  |   | $ | 303,300 |  |

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|                                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                           | Common Stock |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | IssuedShares |   | Amount |   | Treasury StockShares |   | TreasuryStock Amount |   | Additional Paid-inCapital |   | RetainedEarnings |   | Accumulated Other ComprehensiveIncome |   | Total |   | ComprehensiveIncome |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31, 2010                                                     | 36,057,791 |  |   | $ | 3,602 |  |   | (40,509 | ) |   | $ | (76 | ) |   | $ | 153,221 |  |   | $ | 67,642 |  |   | $ | 6,879 |  |   | $ | 231,268 |  |   |   |
| Net income                                                                     | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 37,512 |  |   | — |  |   | 37,512 |  |   | $ | 37,512 |  |
| Cumulative translation adjustment                                              | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 4,882 |  |   | 4,882 |  |   | 4,882 |  |
| Comprehensive income                                                           | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | $ | 42,394 |  |
| Repurchase and retirement of common stock                                      | (1,308,873 | ) |   | (131 | ) |   | — |  |   | — |  |   | (26,067 | ) |   | — |  |   | — |  |   | (26,198 | ) |   |   |
| Vesting of restricted stock                                                    | 103,663 |  |   | 5 |  |   | — |  |   | — |  |   | (5 | ) |   | — |  |   | — |  |   | — |  |   |   |
| Settlement on conversion of convertible debt                                   | — |  |   | — |  |   | — |  |   | — |  |   | (1,850 | ) |   | — |  |   | — |  |   | (1,850 | ) |   |   |
| Exercise of stock options                                                      | 21,509 |  |   | 2 |  |   | — |  |   | — |  |   | 12 |  |   | — |  |   | — |  |   | 14 |  |   |   |
| Deferred compensation and amortization related to options and restricted stock | — |  |   | — |  |   | — |  |   | — |  |   | 1,143 |  |   | — |  |   | — |  |   | 1,143 |  |   |   |
| Share subscribed for business acquisition                                      | 3,650,914 |  |   | 365 |  |   | — |  |   | — |  |   | 87,111 |  |   | — |  |   | — |  |   | 87,476 |  |   |   |
| Tax benefit related to share-based compensation                                | — |  |   | — |  |   | — |  |   | — |  |   | 70 |  |   | — |  |   | — |  |   | 70 |  |   |   |
| Balance, June 30, 2011                                                         | 38,525,004 |  |   | $ | 3,843 |  |   | (40,509 | ) |   | $ | (76 | ) |   | $ | 213,635 |  |   | $ | 105,154 |  |   | $ | 11,761 |  |   | $ | 334,317 |  |   |   |

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|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |
|                                                                              | Six Months Ended |
|                                                                              | June 30, |
|                                                                              | 2011 |   | 2010 |
| Cash flows from operating activities:                                             |   |   |   |
| Net income                                                                        | $ | 37,512 |  |   | $ | 26,394 |  |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |   |   |
| Depreciation and amortization                                                     | 3,868 |  |   | 2,880 |  |
| Share based compensation                                                          | 1,143 |  |   | 905 |  |
| Provision for doubtful accounts                                                   | 337 |  |   | 203 |  |
| Provision (benefit) for deferred taxes                                            | (2,827 | ) |   | (369 | ) |
| Debt discount amortization on convertible debt                                    | 21 |  |   | 211 |  |
| Unrealized foreign exchange gain/(loss) on forward contracts                      | (238 | ) |   | (49 | ) |
| Unrealized foreign exchange (gain), loss                                          | (1,769 | ) |   | (530 | ) |
| (Gain) loss on put option                                                         | 925 |  |   | (1,499 | ) |
| Reduction of acquisition earnout accruals                                         | (1,868 | ) |   | — |  |
| Changes in assets and liabilities, net of effects from acquisitions:              |  |   |  |
| Accounts receivable                                                               | (3,693 | ) |   | (1,795 | ) |
| Other assets                                                                      | 825 |  |   | 387 |  |
| Accounts payable and accrued expenses                                             | (3,482 | ) |   | (1,926 | ) |
| Accrued payroll and related benefits                                              | (850 | ) |   | (709 | ) |
| Deferred revenue                                                                  | (781 | ) |   | (303 | ) |
| Deferred rent                                                                     | (120 | ) |   | (31 | ) |
| Other current liabilities                                                         | 867 |  |   | 33 |  |
| Net cash provided by operating activities                                         | 29,870 |  |   | 23,802 |  |
|                                                                              |   |   |   |
| Cash flows from investing activities:                                             |   |   |   |
| Acquisition of ADAM,  net of cash acquired                                        | 3,529 |  |   | — |  |
| Investment in MCN, net of cash acquired                                           | (381 | ) |   | (2,931 | ) |
| Acquisition of Trades Monitor, net of cash acquired                               | — |  |   | (2,749 | ) |
| Acquisition of Connective Technologies, net of cash acquired                      | — |  |   | (1,337 | ) |
| Investment in ConfirmNet                                                          | (184 | ) |   | (2,975 | ) |
| Purchases of marketable securities                                                | (3,080 | ) |   | (5,701 | ) |
| Maturities of marketable securities                                               | 7,600 |  |   | — |  |
| Capital expenditures                                                              | (1,335 | ) |   | (899 | ) |
| Net cash provided by/(used in) investing activities                               | 6,149 |  |   | (16,592 | ) |
|                                                                              |   |   |   |
| Cash flows from financing activities:                                             |   |   |   |
| Repayments on revolving line of credit, (net of proceeds)                         | (16,250 | ) |   | (7,500 | ) |
| Proceeds from term loan                                                           | 16,250 |  |   | 10,000 |  |
| Principal payments of term loan obligation                                        | (3,074 | ) |   | (2,344 | ) |
| Repurchases of common stock                                                       | (26,198 | ) |   | (4,999 | ) |
| Settlement on conversion of convertible debt                                      | (6,761 | ) |   | — |  |
| Proceeds from the exercise of stock options                                       | 14 |  |   | 178 |  |
| Payments of capital lease obligations                                             | (186 | ) |   | (552 | ) |
| Net cash used in financing activities                                             | (36,205 | ) |   | (5,217 | ) |
| Effect of foreign exchange rates on cash                                          | 416 |  |   | (329 | ) |
| Net change in cash and cash equivalents                                           | 230 |  |   | 1,664 |  |
| Cash and cash equivalents at the beginning of the period                          | 23,397 |  |   | 19,227 |  |
| Cash and cash equivalents at the end of the period                                | $ | 23,627 |  |   | $ | 20,891 |  |
| Supplemental disclosures of cash flow information:                                |   |   |   |
| Interest paid                                                                     | $ | 361 |  |   | $ | 276 |  |
| Income taxes paid                                                                 | $ | 1,505 |  |   | $ | 1,275 |  |

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|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                          |   | Three Months Ended |   | Six Months Ended |
|                          |   | June 30, |   | June 30, |
| (dollar amounts in thousands) |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Carrier Systems               |   | $ | 1,468 |  |   | $ | 2,155 |  |   | 2,992 |  |   | 4,490 |  |
| Exchanges                     |   | 32,222 |  |   | 22,749 |  |   | 63,287 |  |   | 45,620 |  |
| BPO                           |   | 3,753 |  |   | 3,985 |  |   | 7,372 |  |   | 7,478 |  |
| Broker Systems                |   | 4,824 |  |   | 3,318 |  |   | 8,666 |  |   | 6,222 |  |
| Totals                        |   | $ | 42,267 |  |   | $ | 32,207 |  |   | 82,317 |  |   | 63,810 |  |

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|                                            |
|--------------------------------------------|
|                                            |  |  |  |
|                                       | (In thousands) |
| Beginning Balance (December 31, 2010) | $ | 180,602 |  |
| Additions, net (see Note 3)                | 58,376 |  |
| Foreign currency translation adjustments   | 6,771 |  |
| Ending Balance (June 30, 2011)             | $ | 245,749 |  |

|                        |
|------------------------|
|                        |  |  |
| Category               |   | Life (yrs) |
| Customer relationships |   | 4–20 |
| Developed technology   |   | 3–10 |
| Trademarks             |   | 3–15 |
| Non-compete agreements |   | 5 |
| Database               |   | 10 |

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|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |
|                               | June 30, 2011 |   | December 31, 2010 |
|                               | (In thousands) |
| Finite-lived intangible assets:    |   |   |   |
| Customer relationships             | $ | 39,678 |  |   | $ | 24,001 |  |
| Developed technology               | 11,761 |  |   | 9,343 |  |
| Trademarks                         | 2,251 |  |   | 218 |  |
| Non-compete agreements             | 418 |  |   | 418 |  |
| Backlog                            | 140 |  |   | 140 |  |
| Database                           | 217 |  |   | 213 |  |
| Total intangibles                  | 54,465 |  |   | 34,333 |  |
| Accumulated amortization           | (14,278 | ) |   | (11,759 | ) |
| Finite-lived intangibles, net      | $ | 40,187 |  |   | $ | 22,574 |  |
|                               |   |   |   |
| Indefinite-lived intangibles:      |   |   |   |
| Customer/territorial relationships | $ | 31,278 |  |   | $ | 30,552 |  |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Three Months Ended |   | Six Months Ended |
|                                                  | June 30, |   | June 30, |
|                                                  | 2011 |   | 2010 |   | 2011 |   | 2010 |
|                                                  | (In thousands, except per share data) |
| Net income                                            | $ | 22,348 |  |   | $ | 14,010 |  |   | $ | 37,512 |  |   | $ | 26,394 |  |
| Convertible debt interest (excludes imputed interest) | — |  |   | — |  |   | — |  |   | 10 |  |
| Net income for diluted earnings per share purposes    | $ | 22,348 |  |   | $ | 14,010 |  |   | $ | 37,512 |  |   | $ | 26,404 |  |
| Diluted shares outstanding                            | 42,344 |  |   | 39,275 |  |   | 41,882 |  |   | 39,305 |  |
| Diluted earnings per common share                     | $ | 0.53 |  |   | $ | 0.36 |  |   | $ | 0.90 |  |   | $ | 0.67 |  |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |
|                                      | Three Months Ended |   | Six Months Ended |
|                                      | June 30, |   | June 30, |
|                                      | 2011 |   | 2010 |   | 2011 |   | 2010 |
|                                      | (In thousands) |
| Basic Weighted Average Shares Outstanding | 39,159 |  |   | 34,958 |  |   | 38,658 |  |   | 34,852 |  |
| Incremental Shares                        | 3,185 |  |   | 4,317 |  |   | 3,224 |  |   | 4,453 |  |
| Diluted Shares Outstanding                | 42,344 |  |   | 39,275 |  |   | 41,882 |  |   | 39,305 |  |

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|             |
|-------------|
|             |  |  |  |  |  |  |  |  |  |  |  |  |
|        | Six Months Ending            June 30, 2011 | Six Months Ended            June 30, 2010 |
|        | As Reported | Pro Forma | As Reported | Pro Forma |
|        | (unaudited) | (unaudited) |
|        | (In thousands) |
| Revenue     | $ | 82,317 |  | $ | 84,889 |  | $ | 63,810 |  | $ | 77,260 |  |
| Net Income  | $ | 37,512 |  | $ | 38,787 |  | $ | 26,394 |  | $ | 28,008 |  |
| Basic EPS   | $ | 0.97 |  | $ | 0.98 |  | $ | 0.76 |  | $ | 0.73 |  |
| Diluted EPS | $ | 0.90 |  | $ | 0.91 |  | $ | 0.67 |  | $ | 0.65 |  |

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|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |
|                                                | (in thousands) |
| Balance at January 1, 2011                     | $ | 2,980 |  |
| Additions for tax positions related to current year | $ | — |  |
| Additions for tax positions of prior years          | $ | — |  |
| Reductions for tax position of prior years          | $ | — |  |
| Balance at June 30, 2011                            | $ | 2,980 |  |

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|         |  |  |  |  |  |  |  |  |  |  |  |
|    | TheAmericas |   | Asia-Pacific |   | Total |
| Revenue | $ | 64,050 |  |   | $ | 18,267 |  |   | $ | 82,317 |  |

|         |
|---------|
|         |  |  |  |  |  |  |  |  |  |  |  |
|    | TheAmericas |   | Asia-Pacific |   | Total |
| Revenue | $ | 47,813 |  |   | $ | 15,997 |  |   | $ | 63,810 |  |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Regarding Note 4 of the Notes to the Condensed Consolidated Financial Statements, and our future liquidity needs discussed under “Liquidity and Financial Condition,” as pertaining to our ability to generate cash from operating activities and any declines in our credit ratings or financial condition which could restrict our access to the capital markets or materially increase our financing costs; |

|         |                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | With respect to Note 6 of the Notes to the Condensed Consolidated Financial Statements, “Commitments and Contingencies”, and “Contractual Obligations and Commercial Commitments” in MD&A, as regarding changes in the market value of our assets or the ultimate actual cost of our commitments and contingencies; |

|         |                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | With respect Note 3 of the Condensed Notes to the Condensed Consolidated Financial Statements as pertaining to the business acquisitions we have made and our ability to efficiently and effectively integrate acquired business operations, and our ability to accurately estimate the fair value of tangible and intangible assets; and, |

|         |                                                                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | With respect this Management Discussion & Analysis of Financial Condition and Results of Operation and the analysis of the three and six month revenue trends including the actual realized level of demand for our products during the immediately foreseeable future. |

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|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                          |   | Three Months Ended |   | Six Months Ended |
|                          |   | June 30, |   | June 30, |
| (dollar amounts in thousands) |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Carrier Systems               |   | $ | 1,468 |  |   | $ | 2,155 |  |   | $ | 2,992 |  |   | $ | 4,490 |  |
| Exchanges                     |   | 32,222 |  |   | 22,749 |  |   | 63,287 |  |   | 45,620 |  |
| BPO                           |   | 3,753 |  |   | 3,985 |  |   | 7,372 |  |   | 7,478 |  |
| Broker Systems                |   | 4,824 |  |   | 3,318 |  |   | 8,666 |  |   | 6,222 |  |
| Totals                        |   | $ | 42,267 |  |   | $ | 32,207 |  |   | $ | 82,317 |  |   | $ | 63,810 |  |

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|                          |
|--------------------------|
|                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                     | Payment Due by Period |
|                     | Total |   | Less Than1 Year |   | 1-3 Years |   | 3-5 Years |   | More than5 years |
|                     |   |   |   |   | (in thousands) |   |   |   |   |
| Revolving line of credit | $ | 8,750 |  |   | $ | — |  |   | $ | 8,750 |  |   | $ | — |  |   | $ | — |  |
| Long-term debt           | $ | 18,333 |  |   | $ | 6,664 |  |   | $ | 11,669 |  |   | $ | — |  |   | $ | — |  |
| Operating leases         | $ | 14,157 |  |   | $ | 3,788 |  |   | $ | 5,423 |  |   | $ | 2,452 |  |   | $ | 2,494 |  |
| Capital leases           | $ | 445 |  |   | $ | 227 |  |   | $ | 218 |  |   | $ | — |  |   | $ | — |  |
| Total                    | $ | 41,685 |  |   | $ | 10,679 |  |   | $ | 26,060 |  |   | $ | 2,452 |  |   | $ | 2,494 |  |

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|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |
|                                   | Total Number of Shares Purchased as Part ofPublicly-Announced Plans or Programs |   | Average Price Paid Per Share (1) |   | Maximum Number (orApproximate Dollar Value) ofShares that May Yet BePurchased Under the Plans or Programs (2) |
| Period                                 |   |   |
|                                   |   |   |   |   |   |
| As of December 31, 2010           | 961,335 |  |   | $ | — |  |   | $ | 2,409,000 |  |
| January 1, 2011 to March 31, 2011 | 106,483 |  |   | $ | 22.49 |  |   | $ | 30,014,000 |  |
| April 1, 2011 to April 30, 2011        | 173,790 |  |   | $ | 22.41 |  |   | $ | 26,119,000 |  |
| May 1, 2011 to May 31, 2011       | 233,300 |  |   | $ | 21.15 |  |   | $ | 21,185,000 |  |
| June 1, 2011 to June 30, 2011          | 795,300 |  |   | $ | 18.83 |  |   | $ | 61,210,000 |  |
| Total                                  | 2,270,208 |  |   |   |   | $ | 61,210,000 |  |

|     |                                                                                           |
|-----|-------------------------------------------------------------------------------------------|
| (1) | Average price paid per share for shares purchased as part of our publicly-announced plan. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Effective June 30, 2011 the Company's Board of Directors unanimously approved an increase in the size of the Company's authorized share repurchase plan from $45.0 million to $100.0 million. The Board directed that the repurchases be funded with available cash balances and cash generated by the Company's operating activities, and be completed in the subsequent twelve months if possible. |

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|        |  |  |  |  |  |
|   |   |   |   |   |   |
|   |   | Ebix, Inc.  |   |
| Date:  | August 9, 2011 | By:   | /s/ Robin Raina   |   |
|   |   |   | Robin Raina  |   |
|   |   |   | Chief Executive Officer(Principal Executive Officer)  |   |
|   |   |   |   |
| Date:  | August 9, 2011 | By:   | /s/ Robert F. Kerris   |   |
|   |   |   | Robert F. Kerris  |   |
|   |   |   | Chief Financial Officer(Principal Financial and Accounting Officer)  |   |

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|          |  |  |
| Exhibits |   |
| 2.1      | Stock Purchase Agreement dated February 23, 2004 by and among the Company and the shareholders of LifeLink Corporation (incorporated herein by reference to Exhibit 2.1 to the Company’s Current Report of Form 8-K dated February 23, 2004 (the “February 2004 8-K”)) and incorporated herein by reference. |
| 2.2      | Secured Promissory Note, dated February 23, 2004, issued by the Company (incorporated herein by reference to Exhibit 2.2 of the February 2004 8-K) and incorporated herein by reference. |
| 2.3      | Purchase Agreement, dated June 28, 2004, by and between Heart Consulting Pty Ltd. And Ebix Australia Pty Ltd. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report of Form 8-K dated July 14, 2004 (the “July 14, 2004 8-K”)) and incorporated herein by reference. |
| 2.4      | Agreement, dated July 1, 2004, by and between Heart Consulting Pty Ltd. and Ebix, Inc. (incorporated by reference to Exhibit 2.2 to the Company’s Current Report of Form 8-K dated July 14, 2004 (the “July 14, 2004 8-K”)) and incorporated herein by reference. |
| 2.5      | Agreement Plan of Merger by and among Ebix, Finetre and Steven F. Piaker, as shareholders’ Representative dated September 22, 2006 (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on 8-K/A dated October 2, 2006) and incorporated herein by reference. |
| 2.6      | Asset Purchase Agreement dated May 9, 2006, by and among Ebix, Inc., Infinity Systems Consulting, Inc. and the Shareholders of Infinity Systems Consulting, Inc. (incorporated here by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K/A dated May 9, 2006) and incorporated herein by reference. |
| 2.7      | Agreement and Plan of Merger dated October 31, 2007 by and among Ebix, Inc., Jenquest, Inc. IDS Acquisition Sub. and Robert M. Ward as Shareholder Representative (incorporated here by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K/A dated November 7, 2007) and incorporated herein by reference. |
| 2.8      | Stock Purchase Agreement by and among Ebix, Inc., Acclamation Systems, Inc., and Joseph Ott (incorporated here by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K dated August 5, 2008) and incorporated herein by reference. |
| 2.9      | Stock Purchase Agreement by and amongst Ebix, Inc., ConfirmNet Corporation, Ebix Software India Private Limited, ConfirmNet Acquisition Sub, Inc., and Craig Irving, as Shareholders’ Representative (incorporated here by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K dated November 12, 2008) and incorporated herein by reference. |
| 2.10     | Agreement and Plan of Merger, dated September 30, 2009, by and amongst Ebix, E-Z Data, and Dale Okuno and Dilip Sontakey, as Sellers (incorporated here by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K dated October 6, 2009) and incorporated herein by reference. |
| 2.11     | IP Asset Purchase Agreement, dated September 30, 2009, by and amongst Ebix Singapore PTE LTD., Ebix, Inc., E-Z Data, and Dale Okuno and Dilip Sontakey, as Shareholders dated September 30, 2009 (incorporated here by reference to Exhibit 2.2 to the Company’s Current Report on Form 8-K dated October 6, 2009) and incorporated herein by reference. |
| 2.12     | Agreement and Plan of Merger, dated August 29, 2010, by and among Ebix Inc., A.D.A.M., Inc., and Eden Acquisition Sub, Inc. (incorporated here by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K dated August 31, 2010) and incorporated herein by reference. |
| 10.4     | Seventh Amendment to Credit Agreement, dated as of April 20, 2011, by and among Ebix, Inc., as borrower, certain subsidiaries of Ebix, Inc., as guarantors, the lenders party thereto from time to time, Bank of America, N.A., as administrative agent (incorporated here by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K dated April 21, 2011) and incorporated herein by reference. |
| 3.1      | Certificate of Incorporation, as amended, of Ebix, Inc. (filed as Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009) and incorporated herein by reference. |
| 3.2      | Bylaws of the Company (filed as Exhibit 3.2 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2000) and incorporated herein by reference. |
| 31.1     | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002). |
| 31.2     | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002). |
| 32.1     | Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| 32.2     | Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

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