LONDON, UK: Apax XI Fund, a global private equity firm, today announced that it has signed a definitive agreement to acquire a significant minority stake in IBS Software, a leading provider of modern software solutions to the global travel and logistics industry.
The transaction is expected to close by Q3 2023, subject to customary closing conditions.
Founded in 1997, IBS Software provides software as a service (SaaS) solutions, managing mission-critical operations to many of the world’s leading passenger and cargo airlines, airports, hotel chains, cruise lines and logistics players.
Backed by a team of 3900+ professionals, its portfolio of modular, cloud-based SaaS solutions bring innovation and enables profitable growth for customers. Its areas of operations span cargo and logistics, flight operations, passenger services, loyalty programs, cruise operations, energy & resource logistics and hospitality distribution platforms.
Apax’s significant global experience in software (a core sub-sector of Apax’s Tech practice), its digital capabilities and its strong local presence in India ideally positions it to partner with IBS Software’s management team to help fuel future growth.
“We are excited to partner with IBS Software and its management team,” said Alok Mittal, Managing Director at Apax Partners. “IBS Software is a leading provider of software solutions to the travel and logistics industry, and we believe that Apax’s global experience, digital capabilities and local presence in India will be a valuable asset to the company as it continues to grow and expand its reach.”
“We are delighted to welcome Apax as a partner,” said V.K. Mathews, Founder and Executive Chairman of IBS Software. “Apax’s strong track record of investing in and supporting high-growth technology companies will be a tremendous asset to IBS Software as we continue to execute on our growth strategy.”
IBS Software is a leading provider of modern software solutions to the global travel and logistics industry. The company’s solutions are used by many of the world’s leading passenger and cargo airlines, airports, hotel chains, cruise lines and logistics players. IBS Software is headquartered in Bangalore, India, and has offices in the United States, Europe and Asia.