HP to Invest in Delphi Unit
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Hewlett-Packard will announce today that it is investing in Ebix.com, which next month is launching an electronic marketplace for consumers seeking insurance policies.
The step accelerates the computer giant’s drive to get more involved in electronic business in general and electronic services in particular, since it stands to profit in the venture by taking a share of the portal’s revenue.
Ebix is a unit of Delphi Information Systems, which is a small, publicly traded concern on Nasdaq, where its shares rose 88 cents to close at $9. As part of the deal, Hewlett-Packard will get options to purchase more than 9% of Delphi in the next two years.
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