Trivandrum, India (ots / PRNewswire) –
The global large companies for travel, transport and logistics technology IBS Software today announced a private equity investment of USD 170 million from the assets under management of Blackstone ( NYSE: obtain BX). The latter company will receive a minority stake in return. Blackstone currently accepts the one involved in IBS since 2007 leading growth capital company General Atlantic and acquires shares of other shareholders. The transaction is expected to be completed within one month, however, is subject to customary regulatory approvals
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This is the second time that IBS will receive an investment of a globally active private equity firm (PE). Commonly, this is a sign of the growing importance of the company within the industry. With nearly 3,000 professionals in nine offices IBS is represented worldwide. The company provides a variety of software products for the next generation of the best airlines, busiest airports, leading cruise lines, major travel agencies and leading oil and gas companies in the world ready. With assets under management of more than 334 billion USD Blackstone is the largest alternative asset management company in the world.
“The investment of a worldwide active Tier 1 representative from the PE industry is not only be seen as a real confirmation of the relevance and importance of our work and our financial strength. This is also a testament to our industry vision that we pursue business model and our corporate governance standards. In our view, result from Blackstones corporate portfolio and its profound experience in the Travel and Hospitality great synergy, “said VK Mathews, founder and CEO of IBS Group.
” This partnership is the Board of IBS benefit, improve leadership further and offer us the opportunity, our presence by using the expertise of proven professionals to expand. By Blackstones global presence and expertise we will be able to offer long term even more added value to our employees, customers and shareholders. We are excited to have Blackstone on our side, when we usher in the next phase of our aggressive growth strategy, “said Rajiv Shah, the CEO of IBS software.
” IBS is a rare software-as-a- Service company (SaaS) that has around the globe related to intellectual property in the aviation industry and in the travel and hospitality industry. The leadership of the company has as well as its track record in delivering mission-critical solutions impressed us for renowned customers from around the world. We anticipate significant growth opportunities for IBS, which are due to the extensive industry knowledge of the company, its product portfolio and the first-class reference customer base, “said Amit Dixit, chief operating officer and deputy head of Blackstone’s private equity division in India.
With regard to the structure of the controlling stake in IBS software, there is no significant changes since the original PE investor General Atlantic, whose investment goes back to 2007, is leaving the company as a result of this transaction. “We thank the leadership of IBS for having the company advanced the debate on our investment further. The recorded during our investment period the company’s growth is remarkable, which also applies to its maturity. We are delighted that responsibility now handed over to Blackstone so IBS continue its growth trend and expand into new spheres can, “said Sandeep Naik, Managing Director and head of India and Southeast Asia region at General Atlantic.
For more information received on: http://www.ibsplc.com
OTS: IBS Software Newsroom: http://www.presseportal.de/nr/119198 newsroom via RSS: http: //www.presseportal .com / rss / pm_119198.rss2
Press Contact: Bratati Ghosh Bratati.Ghosh@ibsplc.com
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