IBS Software shares to be managed by investment firm Apax
Investment giant Blackstone has announced the sale of its stake in IBS Software. The buyer will be the British investment firm Apax. The deal is worth US$450 million.
India-based IBS provides SaaS products to the travel, logistics and airline industries. The company has a strong presence outside its home country, with offices in Europe, Asia, North America and Australia. There are 16 IBS offices in total. The company employs approximately 4,000 people. Its partners include major airlines such as Qantas and Virgin Atlantic.
Blackstone has owned a 40% stake in the developer since 2015 after buying it from General Atlantic. At the time, the transaction was worth US$170 million. It should be noted that the sale amount announced by Blackstone is well below the investment company’s original plans. Some time ago, it wanted to sell its stake in IBS for over US$1 billion. Experts estimate that the developer has raised about US$680 million during its lifetime.
IBS company
IBS is a successful company that has been in the market for more than 25 years. In the last financial year, it generated approximately US$150 million in revenues. IBS planned an IPO on a US stock exchange in 2022 but postponed the process due to the economic downturn and reduced investment activity.
IBS provides SaaS services to help hotel, travel and logistics companies optimise their business processes and increase productivity. The developer creates and maintains end-to-end solutions perfectly tailored to the customer’s needs. This enables companies to innovate quickly without downtime or loss of quality.
The British investment company Apax
Apax operates all over the world. It has offices in New York, Tel Aviv, Mumbai and other major cities. The company has been operating in its current form since 1969. Apax has transformed itself by merging various companies. Since 1981, it has raised approximately US$51 billion, making it one of the largest firms in the world.
Apax invests in a select list of sectors, with technology being a priority. In addition to IBS, the firm has already invested in some SaaS solution developers and IT start-ups. Commenting on the Blackstone deal, Apax said it was interested in developing and expanding IBS. The developer can count on the investment firm’s support as a reliable business partner. IBS founder V.K. Mathews will remain the majority shareholder of IBS after the share sale.
