cxo voice
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News

Blackstone sells stake worth $450 mn in India’s IBS Software to Apax

IANS by IANS
June 25, 2023
Blackstone sells stake worth $450 mn in Indian firm IBS Software to Apax

Global VC firm Blackstone on Monday reached a definitive agreement to sell its stake in the Kerala-based software-as-a-service (SaaS) provider IBS Software to global private equity firm Apax for $450 million.

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.

Backed by a team of 4000 professionals across the world with more than 25 years of deep domain expertise, IBS Software’s scalable, cloud-native platform and demonstrated market leadership position it to define the future of mission-critical technology for the travel industry.

“This investment is an endorsement of our strategy and our commitment and contribution to the industry, and we have a shared vision with Apax for the future of the business. We’re grateful to the Blackstone team for their invaluable support over the years and we look forward to an exciting and fulfilling journey ahead with Apax,” said Mathews of IBS Software.

The transaction is expected to close by the end of Q2 2023.

ADVERTISEMENT

Blackstone acquired about 40 per cent stake in IBS Software, from General Atlantic, in 2015 for $170 million.

“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,” said Jason Wright, Partner, Apax.

Amit Dixit, Head of Asia Private Equity, Blackstone added that they are happy to have played an important role in IBS Software’s transformation to a SaaS company with global leadership in travel and logistics.

“IBS is already one of the largest enterprise SaaS companies out of India. Value creation at IBS Software demonstrates our business-building approach to investing and reinforces our conviction in Technology as a sectoral theme,” Dixit added.

IANS

IANS

For any query, [email protected]

Related Posts

AMD Sanmina
Business

AMD to Sell ZT Systems’ Manufacturing Business to Sanmina for $3 Billion

May 20, 2025
Red Hat AI NVIDIA
AI

Red Hat Empowers Agentic AI with Support for NVIDIA Enterprise AI Factory

May 20, 2025
Qualcomm Advantech
Business

Qualcomm and Advantech Join Forces to Accelerate AI for IoT Applications at COMPUTEX 2025

May 20, 2025
Tech Mahindra
Press Release

Tech Mahindra Achieves Red Hat Premier Partner Status Globally

May 20, 2025
Kiran Cherukuri
People

HCLTech Appoints Kiran Cherukuri as New Global GCC Practice Leader to Drive Innovation and Growth

May 20, 2025
NetApp NVIDIA
Business

NetApp and NVIDIA Partner to Enhance AI Adoption with the AIPod Solution for Streamlined Data Management

May 19, 2025
GIGABYTE at COMPUTEX 2025
Press Release

GIGABYTE at COMPUTEX 2025: Accelerating the AI Future With Total Infrastructure and Computing Solutions

May 19, 2025
NVIDIA AI
AI

Taiwan AI Revolution: Foxconn and NVIDIA Team Up to Launch Cutting-Edge AI Factory

May 19, 2025
Load More
ADVERTISEMENT

Latest Updates

AMD Sanmina

AMD to Sell ZT Systems’ Manufacturing Business to Sanmina for $3 Billion

by Deepa Sharma
2 hours ago

Red Hat AI NVIDIA

Red Hat Empowers Agentic AI with Support for NVIDIA Enterprise AI Factory

by Deepa Sharma
3 hours ago

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

by Sundar Balasubramanian
3 hours ago

Qualcomm Advantech

Qualcomm and Advantech Join Forces to Accelerate AI for IoT Applications at COMPUTEX 2025

by Deepa Sharma
4 hours ago

Tech Mahindra

Tech Mahindra Achieves Red Hat Premier Partner Status Globally

by News Desk
5 hours ago

Kiran Cherukuri

HCLTech Appoints Kiran Cherukuri as New Global GCC Practice Leader to Drive Innovation and Growth

by Deepa Sharma
7 hours ago

Expert Views

Opinion

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

May 20, 2025
Molly Sands AI
AI

AI RIP: 5 Things Knowledge Workers Will Say ‘Sayonara’ to in the Next Decade

March 8, 2025
multi cloud
Cloud

Multi-Cloud Made Simple: Strategies for Smart Business Management

March 5, 2025
Soft Skills
Opinion

Soft Skills and Technical Know-How: A Winning Combination in the Tech Industry

March 4, 2025
Digital Freedom
Cyber Security

Your Data, Their Gold: The Silent Battle for Digital Freedom

February 25, 2025

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Interviews

Steve Wilson, GenAI Cybersecurity LLMs
Cyber Security

How effective is GenAI in cybersecurity? The role of LLMs and AI in security solutions. [Interview with Steve Wilson]

-
Interview on Counterfeit products with Nikhil Narayan
Leaders Talk

Advancements in ML & AI made it possible to detect counterfeit products in real-time, says Nikhil Narayan

-
Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami
Leaders Talk

Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami

-
AI chatbots, Prasanna-Kumar
Leaders Talk

Can AI chatbots enhance customer experience and reduce the cost of serving customers?

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

CXOVoice.com is a leading online publication for CXOs, entrepreneurs, senior leaders, developers, and industry professionals. Our coverage spans key sectors, including IT, technology, banking, finance, cybersecurity, engineering, and automobiles.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]
  • Home
  • About Us
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

Copyright © 2025 CXOVoice - All Right Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release

Copyright © 2025 CXOVoice - All Right Reserved