Funds advised by Apax Partner LLP (“Apax”) announced that it has reached a definitive agreement to invest approximately $450 million to acquire a substantial minority stake in the Company. Software IBS, a leading provider of modern Software as a Service (SaaS) solutions for the global travel and logistics industry, from Blackstone. Following the transaction, Apax will work closely with the Founder and Executive Chairman of IBS Software, VK Mathews, who will remain the majority shareholder.
With a comprehensive portfolio of modular, cloud-based solutions built with purpose for the travel industry, Software IBS helping travel agencies drive innovation and drive efficiency across a range of core business processes, including freight and logistics, flight operations, passenger services, loyalty programs equipment, travel operations, energy and resource logistics, and hospitality distribution platforms.
“We are thrilled to partner with Apax as we enter a new phase in our mission to transform the way companies operate,” said VK Mathews, Founder and Executive Chairman of IBS Software. travel in the digital world. This investment is an endorsement of our strategy, commitment and contribution to the industry, and we share a vision with Apax for the future of the business.
Anand Krishnan, CEO of IBS Software, added: “As the travel industry rapidly adopts digitalisation, we have an important role to play in helping our customers increase revenue, drive efficiency and generate revenue. differentiated customer experience. Apax has extensive experience in working with leading partners SaaS provider and will be a strategic partner of IBS Software as we begin a new phase of development.”
Jason Wright, Apax Partner, commented: “After closely monitoring the travel software industry over the past few years, IBS Software stands out to us as uniquely positioned in the industry, offering a suite of software. the next generation that we believe is truly unrivaled. Over the past two decades, IBS Software has invested in product, innovation and culture, and continues to scale the business. We believe there is tremendous growth potential ahead and look forward to leveraging our software experience to help make IBS Software a global leader in travel and logistics software.”
The transaction is subject to normal closing conditions and is expected to close by the end of Q2 2023. Financial terms were not disclosed.