THIRUVANANTHAPURAM: Apax Partners LLP (“Apax”) announced on Monday that they have reached a definitive agreement to invest approximately $450 million to acquire a significant minority stake in Technopark-based IBS Software, a leading provider of modern Software-as-a-Service solutions to the global travel and logistics industry, from Blackstone. Following the transaction, Apax will partner closely with IBS Software’s founder and executive chairman V K Mathews who will remain the majority shareholder.
Founded in 1997, IBS Software provides next-generation SaaS solutions that power the most mission-critical operations at the world’s leading aviation, tour and cruise, hospitality and logistics companies.
Backed by a team of 4,000 professionals across the world with more than 25 years of deep domain expertise, IBS Software’s scalable, cloud-native platform and demonstrated market leadership, position it to define the future of mission-critical technology for the travel industry.
V K Mathews said, “We’re excited to partner with Apax as we enter a new phase in our mission to transform how travel companies operate in the digital world. This investment is an endorsement of our strategy and our commitment and contribution to the industry, and we have a shared vision with Apax for the future of the business. We thank our customers and employees who have been instrumental in our success so far.”