Blackstone sells stake worth $450 mn in SaaS 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,