Apax Partners to acquire minority stake in travel tech firm IBS Software for $450m

• The transaction is expected to close the end of the second quarter of this year
• IBS Software was founded in 1997
• J.P. Morgan is acting as financial advisor to IBS Software and Blackstone while Jefferies LLC is acting as financial advisor to Apax

Apax Partners has agreed to acquire a minority stake in IBS Software, an India-based provider of modern Software-as-a-Service solutions to the travel and logistics industry, for $450 million. The seller is Blackstone.

The transaction is expected to close the end of the second quarter of this year.

On the deal, Jason Wright, a partner at Apax, said in a statement, “We are thrilled to partner with VK and the management team at IBS Software. Having closely monitored the travel software sector over the last several years, IBS Software stood out to us as uniquely positioned in the industry, offering a next-gen software suite that we believe is truly unrivalled. Over the last two decades, IBS Software has invested in products, innovation, and culture, while continuing to scale the business.”

IBS Software was founded in 1997.

J.P. Morgan is acting as financial advisor to IBS Software and Blackstone while Jefferies LLC is acting as financial advisor to Apax.

Apax Partners has raised and advised funds with aggregate commitments of more than $65 billion.