these performance indicators include measurements of revenue growth , operating income , operating margin , income from continuing operations , diluted earnings per share , and cash provided by operating activities . we monitor these indicators , in conjunction with our corporate governance practices , to ensure that our business is efficiently managed and that effective controls are maintained . the key performance indicators for the twelve months ended december 31 , 2017 , 2016 and 2015 were as follows : 28 replace_table_token_6_th results of operations replace_table_token_7_th twelve months ended december 31 , 2017 and 2016 operating revenue the company derives its revenues primarily from professional and support services , which includes subscription and transaction fees pertaining to services delivered over our exchanges or from our asp platforms , revenue generated from software development projects and associated fees for consulting , implementation , training , and project management provided to customers using our systems , and business process outsourcing revenue . ebix 's revenue streams come from four product channels . presented in the table below is the breakout of our revenues for each of those product channels for the years ended december 31 , 2017 and 2016 . 29 replace_table_token_8_th the company is continuing to evaluate the classification of the 2017 acquisitions that collectively make up the ebixcash financial exchanges , refer to part i , item i business . currently they are reported under exchange channel , but is subject to change based on the conclusions of our evaluations . during the twelve months ended december 31 , 2017 our total revenue increased $ 65.7 million , or 22.0 % , to $ 364.0 million compared to $ 298.3 million in 2016 . the company leverages product cross-selling opportunities across all channels , as facilitated by our operating philosophy and business acquisition strategy . with respect to business acquisitions completed during the fiscal years 2017 and 2016 on a pro forma basis , as disclosed in the table in note 4 “ pro forma financial information ” to the enclosed consolidated financial statements , combined pro forma revenues increased $ 6.4 million or 1.5 % to $ 440.5 million for the year 2017 from the $ 434.2 million of pro forma revenue for the year 2016 , with the change in exchange rates favorably affecting reported revenues by $ 2.1 million , whereas there was a 22.0 % increase in reported revenues for the same comparative periods . the cause for the difference between the 22.0 % increase in reported 2017 revenue versus 2016 revenue , as compared to the 1.5 % increase in 2017 pro forma versus 2016 pro forma revenue is due to the effect of combining the additional revenue derived from those businesses acquired during the years 2017 and 2016 , specifically itzcash , youfirst , wall street , paul merchants , via , bebetter , wdev , hope health , and the ebixhealth jv with the company 's pre-existing operations . the 2017 and 2016 pro forma financial information below assumes that all such business acquisitions were made on january 1 , 2016 , whereas the company 's reported financial statements for 2017 only includes the operating results from the businesses since the effective date that they were acquired by ebix , and thusly includes only nine months of itzcash , seven months of bebetter , four months of youfirst , three months of wall street , two months of paul merchants , and two months of via . similarly , the 2016 pro forma financial information below includes a full year of results for wdev , hope health , and ebixhealth jv as if they had been acquired on january 1 , 2016 , whereas the company 's reported financial statements for the 2016 includes only two months of wdev , two months of hope health , and six months of the ebixhealth jv . the pro forma analysis is based on the following premises : 2017 and 2016 pro forma revenue contains actual revenue of the acquired entities before acquisition date , as reported by the sellers , as well as actual revenue of the acquired entities after acquisition . growth in revenues of the acquired entities after acquisition date is only reflected for the period after their acquisition . revenue billed to existing clients from the cross selling of acquired products has been assigned to the acquired section of our business . any existing products sold to new customers acquired through the acquisition customer base , has also been assigned to the acquired section of our business . 2016 pro forma revenues include revenues from some product lines whose sale was discontinued after the acquisition date and revenues from some customers whose contracts were discontinued . this is typically done for efficiency and or competitive reasons . the impact from fluctuations of the exchange rates for the foreign currencies in the countries in which we conduct operations also partially adversely affected reported revenues . during each of the years 2017 , 2016 and 2015 the change in foreign currency exchange rates increased ( decreased ) reported consolidated operating revenues by $ 2.1 million , $ ( 3.3 ) million , and $ ( 10.7 ) million , respectively . the specific components of our revenue and the changes experienced during the past year are discussed immediately below . exchange division revenues increased by $ 53.0 million , or 26 % , principally due to the 2017 acquisitions of itzcash , youfirst , wall street , paul merchants , and via . broker p & c systems division revenue increased by $ 569 thousand , or 4 % . reported revenues partially increased due to the effects of changing currency exchange rates . 30 risk compliance solutions division revenues increased by $ 12.6 million , or 17 % , primarily due to new e-governance revenues associated with our indian operations and consulting service revenues generated by november 2016 acquisition of wdev . story_separator_special_tag ebix acquired via for upfront cash consideration in the amount $ 78.8 million plus possible future contingent payments of up to $ 2.3 million based on any potential claims made by tax authorities over the subsequent twelve month period following the effective date of the acquisition and $ 2.0 million based on the receipt of refunds pertaining to certain advance tax payments and withholding taxes , both of which are included in other current liabilities in the company 's consolidated balance sheet .. the valuation and purchase price allocation for the via acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective november 1 , 2017 ebix acquired the mtss business of paul merchants , the largest international remittance service provider in india , for upfront cash consideration in the amount $ 37.4 million . the valuation and purchase price allocation for the paul merchants acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective october 1 , 2017 ebix acquired the mtss business of wall street , an inward international remittance service provider in india , along with the acquisition of its subsidiary company goldman securities limited for upfront cash consideration in the amount $ 7.4 million . the valuation and purchase price allocation for the wall street acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective september 1 , 2017 ebix acquired the mtss business of youfirst , an inward international remittance service provider in india , for upfront cash consideration in the amount $ 10.2 million . the valuation and purchase price allocation for the youfirst acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective june 1 , 2017 ebix acquired the assets of bebetter , a technology enabled corporate wellness provider that provides end-to-end wellness solutions offering a variety of tools and programs , including interactive platforms , health screening , coaching , tobacco cessation , weight and stress management , health information , and numerous other products and services . ebix acquired the assets and intellectual property of bebetter for $ 1.0 million plus possible future contingent earn-out payments of up to $ 2.0 million based on earned revenues over the subsequent twenty-four month period following the effective date of the acquisition . effective april 1 , 2017 ebix entered into a joint venture with india-based essel group , while acquiring an 80 % stake in itzcash , india 's leading payment solutions exchange . itzcash is recognized as a leader in the prepaid cards and bill payments space in india . under the terms of the agreement , itzcash was valued at a total enterprise value of approximately $ 150 million . accordingly , ebix acquired an 80 % stake in itzcash for $ 120 million including upfront cash of $ 76.3 million plus possible future contingent earn-out payments of up to $ 44.0 million based on earned revenues over the subsequent thirty-six month period following the effective date of the acquisition . $ 4.0 million of the possible future contingent earn-out payments is being held in escrow accounts for the twelve month period following the effective date of the acquisition to ensure that the acquired business achieves the minimum specified annual gross revenue threshold , which if not achieved will result in said funds being returned to ebix . the valuation and purchase price allocation for the itzcash acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . during the year ended december 31 , 2016 the company completed two business acquisitions , as follows : effective november 1 , 2016 ebix acquired wdev , a brazilian company that provides it services and software development for the latin american insurance industry . ebix acquired wdev for upfront cash consideration in the amount of $ 10.5 million , plus possible future contingent earn out payments of up to $ 15.7 million based on earned revenues over the subsequent thirty-eight month period following the effective date of the acquisition . $ 2.9 million of the upfront cash consideration is being held in an escrow account for the thirty-eight month period following the effective date of the acquisition to ensure that the acquired business achieves the minimum specified annual net revenue threshold , which if not achieved will result in said funds being returned to ebix . 37 effective november 1 , 2016 ebix acquired the assets of hope health , a michigan corporation and publisher of health and wellness continuing education products . ebix acquired the assets and intellectual property of hope health for $ 1.72 million . effective july 1 , 2016 ebix and ihc jointly executed a call notice agreement , whereby ebix purchased additional common units in the ebixhealth jv from ihc constituting eleven percent ( 11 % ) of the ebixhealth jv for $ 2.0 million cash which resulted in ebix holding an aggregate fifty-one percent ( 51 % ) controlling equity interest in the ebixhealth jv . previously , effective september 1 , 2015 ebix and ihc formed a joint venture named ebixhealth jv . ebix paid $ 6.0 million and contributed a license to use certain curepet software and systems valued by the ebixhealth jv at $ 2.0 million , for its initial 40 % membership interest in the ebixhealth jv . during the year ended december 31 , 2015 the company completed three business acquisitions , as follows : effective september 1 , 2015 ebix and ihc formed a joint venture named ebixhealth jv . this joint

liquidity and capital resources our principal sources of liquidity are the cash flows provided by our operating activities , our commercial bank credit facility , and cash and cash equivalents on hand . we intend to continue to utilize cash flows generated by our ongoing operating activities , in combination with possibly expanding our commercial lending facility , and the possible issuance of additional equity or debt securities to fund capital expenditures and organic growth initiatives , to make strategic business acquisitions , to retire outstanding indebtedness , and to repurchase shares of our common stock if and as market and operating conditions warrant . we believe that anticipated cash flow provided by our operating activities , together with current cash balances and access to our credit facilities and the capital markets , if required , will be sufficient to meet our projected cash requirements for the next twelve months , although any projections of future cash needs , cash flows , and the general market conditions for credit and equity securities is subject to substantial uncertainty . in the event additional liquidity needs arise , we may raise funds from a combination of sources , including the potential issuance of debt or equity securities . however , there are no assurances that such financing will be available in amounts or on terms acceptable to us , if at all . we regularly evaluate our liquidity requirements , including the need for additional debt or equity offerings , when considering potential business acquisitions , or the development of new products or services . during 2018 , the company intends to utilize its cash and other financing resources to fund organic growth initiatives , strategic business acquisitions , and new product development initiatives and service offerings . our cash and cash equivalents were $ 63.9 million and $ 114.1 million at december 31 , 2017 and 2016 , respectively . the company holds material cash and cash equivalent balances overseas in foreign jurisdictions .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our principal sources of liquidity are the cash flows provided by our operating activities , our commercial bank credit facility , and cash and cash equivalents on hand . we intend to continue to utilize cash flows generated by our ongoing operating activities , in combination with possibly expanding our commercial lending facility , and the possible issuance of additional equity or debt securities to fund capital expenditures and organic growth initiatives , to make strategic business acquisitions , to retire outstanding indebtedness , and to repurchase shares of our common stock if and as market and operating conditions warrant . we believe that anticipated cash flow provided by our operating activities , together with current cash balances and access to our credit facilities and the capital markets , if required , will be sufficient to meet our projected cash requirements for the next twelve months , although any projections of future cash needs , cash flows , and the general market conditions for credit and equity securities is subject to substantial uncertainty . in the event additional liquidity needs arise , we may raise funds from a combination of sources , including the potential issuance of debt or equity securities . however , there are no assurances that such financing will be available in amounts or on terms acceptable to us , if at all . we regularly evaluate our liquidity requirements , including the need for additional debt or equity offerings , when considering potential business acquisitions , or the development of new products or services . during 2018 , the company intends to utilize its cash and other financing resources to fund organic growth initiatives , strategic business acquisitions , and new product development initiatives and service offerings . our cash and cash equivalents were $ 63.9 million and $ 114.1 million at december 31 , 2017 and 2016 , respectively . the company holds material cash and cash equivalent balances overseas in foreign jurisdictions .
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 Suspicious Activity Report : these performance indicators include measurements of revenue growth , operating income , operating margin , income from continuing operations , diluted earnings per share , and cash provided by operating activities . we monitor these indicators , in conjunction with our corporate governance practices , to ensure that our business is efficiently managed and that effective controls are maintained . the key performance indicators for the twelve months ended december 31 , 2017 , 2016 and 2015 were as follows : 28 replace_table_token_6_th results of operations replace_table_token_7_th twelve months ended december 31 , 2017 and 2016 operating revenue the company derives its revenues primarily from professional and support services , which includes subscription and transaction fees pertaining to services delivered over our exchanges or from our asp platforms , revenue generated from software development projects and associated fees for consulting , implementation , training , and project management provided to customers using our systems , and business process outsourcing revenue . ebix 's revenue streams come from four product channels . presented in the table below is the breakout of our revenues for each of those product channels for the years ended december 31 , 2017 and 2016 . 29 replace_table_token_8_th the company is continuing to evaluate the classification of the 2017 acquisitions that collectively make up the ebixcash financial exchanges , refer to part i , item i business . currently they are reported under exchange channel , but is subject to change based on the conclusions of our evaluations . during the twelve months ended december 31 , 2017 our total revenue increased $ 65.7 million , or 22.0 % , to $ 364.0 million compared to $ 298.3 million in 2016 . the company leverages product cross-selling opportunities across all channels , as facilitated by our operating philosophy and business acquisition strategy . with respect to business acquisitions completed during the fiscal years 2017 and 2016 on a pro forma basis , as disclosed in the table in note 4 “ pro forma financial information ” to the enclosed consolidated financial statements , combined pro forma revenues increased $ 6.4 million or 1.5 % to $ 440.5 million for the year 2017 from the $ 434.2 million of pro forma revenue for the year 2016 , with the change in exchange rates favorably affecting reported revenues by $ 2.1 million , whereas there was a 22.0 % increase in reported revenues for the same comparative periods . the cause for the difference between the 22.0 % increase in reported 2017 revenue versus 2016 revenue , as compared to the 1.5 % increase in 2017 pro forma versus 2016 pro forma revenue is due to the effect of combining the additional revenue derived from those businesses acquired during the years 2017 and 2016 , specifically itzcash , youfirst , wall street , paul merchants , via , bebetter , wdev , hope health , and the ebixhealth jv with the company 's pre-existing operations . the 2017 and 2016 pro forma financial information below assumes that all such business acquisitions were made on january 1 , 2016 , whereas the company 's reported financial statements for 2017 only includes the operating results from the businesses since the effective date that they were acquired by ebix , and thusly includes only nine months of itzcash , seven months of bebetter , four months of youfirst , three months of wall street , two months of paul merchants , and two months of via . similarly , the 2016 pro forma financial information below includes a full year of results for wdev , hope health , and ebixhealth jv as if they had been acquired on january 1 , 2016 , whereas the company 's reported financial statements for the 2016 includes only two months of wdev , two months of hope health , and six months of the ebixhealth jv . the pro forma analysis is based on the following premises : 2017 and 2016 pro forma revenue contains actual revenue of the acquired entities before acquisition date , as reported by the sellers , as well as actual revenue of the acquired entities after acquisition . growth in revenues of the acquired entities after acquisition date is only reflected for the period after their acquisition . revenue billed to existing clients from the cross selling of acquired products has been assigned to the acquired section of our business . any existing products sold to new customers acquired through the acquisition customer base , has also been assigned to the acquired section of our business . 2016 pro forma revenues include revenues from some product lines whose sale was discontinued after the acquisition date and revenues from some customers whose contracts were discontinued . this is typically done for efficiency and or competitive reasons . the impact from fluctuations of the exchange rates for the foreign currencies in the countries in which we conduct operations also partially adversely affected reported revenues . during each of the years 2017 , 2016 and 2015 the change in foreign currency exchange rates increased ( decreased ) reported consolidated operating revenues by $ 2.1 million , $ ( 3.3 ) million , and $ ( 10.7 ) million , respectively . the specific components of our revenue and the changes experienced during the past year are discussed immediately below . exchange division revenues increased by $ 53.0 million , or 26 % , principally due to the 2017 acquisitions of itzcash , youfirst , wall street , paul merchants , and via . broker p & c systems division revenue increased by $ 569 thousand , or 4 % . reported revenues partially increased due to the effects of changing currency exchange rates . 30 risk compliance solutions division revenues increased by $ 12.6 million , or 17 % , primarily due to new e-governance revenues associated with our indian operations and consulting service revenues generated by november 2016 acquisition of wdev . story_separator_special_tag ebix acquired via for upfront cash consideration in the amount $ 78.8 million plus possible future contingent payments of up to $ 2.3 million based on any potential claims made by tax authorities over the subsequent twelve month period following the effective date of the acquisition and $ 2.0 million based on the receipt of refunds pertaining to certain advance tax payments and withholding taxes , both of which are included in other current liabilities in the company 's consolidated balance sheet .. the valuation and purchase price allocation for the via acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective november 1 , 2017 ebix acquired the mtss business of paul merchants , the largest international remittance service provider in india , for upfront cash consideration in the amount $ 37.4 million . the valuation and purchase price allocation for the paul merchants acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective october 1 , 2017 ebix acquired the mtss business of wall street , an inward international remittance service provider in india , along with the acquisition of its subsidiary company goldman securities limited for upfront cash consideration in the amount $ 7.4 million . the valuation and purchase price allocation for the wall street acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective september 1 , 2017 ebix acquired the mtss business of youfirst , an inward international remittance service provider in india , for upfront cash consideration in the amount $ 10.2 million . the valuation and purchase price allocation for the youfirst acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . effective june 1 , 2017 ebix acquired the assets of bebetter , a technology enabled corporate wellness provider that provides end-to-end wellness solutions offering a variety of tools and programs , including interactive platforms , health screening , coaching , tobacco cessation , weight and stress management , health information , and numerous other products and services . ebix acquired the assets and intellectual property of bebetter for $ 1.0 million plus possible future contingent earn-out payments of up to $ 2.0 million based on earned revenues over the subsequent twenty-four month period following the effective date of the acquisition . effective april 1 , 2017 ebix entered into a joint venture with india-based essel group , while acquiring an 80 % stake in itzcash , india 's leading payment solutions exchange . itzcash is recognized as a leader in the prepaid cards and bill payments space in india . under the terms of the agreement , itzcash was valued at a total enterprise value of approximately $ 150 million . accordingly , ebix acquired an 80 % stake in itzcash for $ 120 million including upfront cash of $ 76.3 million plus possible future contingent earn-out payments of up to $ 44.0 million based on earned revenues over the subsequent thirty-six month period following the effective date of the acquisition . $ 4.0 million of the possible future contingent earn-out payments is being held in escrow accounts for the twelve month period following the effective date of the acquisition to ensure that the acquired business achieves the minimum specified annual gross revenue threshold , which if not achieved will result in said funds being returned to ebix . the valuation and purchase price allocation for the itzcash acquisition remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction . during the year ended december 31 , 2016 the company completed two business acquisitions , as follows : effective november 1 , 2016 ebix acquired wdev , a brazilian company that provides it services and software development for the latin american insurance industry . ebix acquired wdev for upfront cash consideration in the amount of $ 10.5 million , plus possible future contingent earn out payments of up to $ 15.7 million based on earned revenues over the subsequent thirty-eight month period following the effective date of the acquisition . $ 2.9 million of the upfront cash consideration is being held in an escrow account for the thirty-eight month period following the effective date of the acquisition to ensure that the acquired business achieves the minimum specified annual net revenue threshold , which if not achieved will result in said funds being returned to ebix . 37 effective november 1 , 2016 ebix acquired the assets of hope health , a michigan corporation and publisher of health and wellness continuing education products . ebix acquired the assets and intellectual property of hope health for $ 1.72 million . effective july 1 , 2016 ebix and ihc jointly executed a call notice agreement , whereby ebix purchased additional common units in the ebixhealth jv from ihc constituting eleven percent ( 11 % ) of the ebixhealth jv for $ 2.0 million cash which resulted in ebix holding an aggregate fifty-one percent ( 51 % ) controlling equity interest in the ebixhealth jv . previously , effective september 1 , 2015 ebix and ihc formed a joint venture named ebixhealth jv . ebix paid $ 6.0 million and contributed a license to use certain curepet software and systems valued by the ebixhealth jv at $ 2.0 million , for its initial 40 % membership interest in the ebixhealth jv . during the year ended december 31 , 2015 the company completed three business acquisitions , as follows : effective september 1 , 2015 ebix and ihc formed a joint venture named ebixhealth jv . this joint

