By Express News ServiceTHIRUVANANTHAPURAM: 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. 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.

Source: Indian Express May 16, 2023 06:24 UTC