Apax Partners to invest $450 million for minority stake in IBS

Apax Partners have reached a definitive agreement to invest approximately $450 million to acquire a significant minority stake in IBS Software, from Blackstone. Following the transaction, Apax will partner closely with IBS Software’s Founder and Executive Chairman, V K Mathews, who will remain the majority shareholder. Mathews said: “We’re excited to partner with Apax as we enter a new phase in our mission to transform how travel companies operate in a digital world. 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