IBS Software provides modular, cloud-based solutions. Credit: Maskot via Getty Images.

Private equity advisory firm Apax Partners has invested $450m to acquire a minority stake in IBS Software.

The transaction is expected to close at the end of the second quarter of 2023. Financial terms were not disclosed.  

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Founded in 1997, IBS Software provides modular, cloud-based solutions to global aviation, cruise and hospitality companies.

The India-based company aims to help travel companies drive efficiency across a set of core business processes including loyalty programmes, energy and resource logistics and hospitality distribution platforms.

Apax will partner closely with IBS Software’s founder and executive chairman, V K Mathews, who will remain the majority shareholder.

Mathews comments: “This investment is an endorsement of our strategy and our commitment and contribution to the travel industry. We have a shared vision with Apax for the future of the business.”

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Apax partner Jason Wright adds: “Having closely monitored the travel software sector over the last several years, IBS Software stood out to us as uniquely positioned in the industry. It offers a next-gen software suite that we believe is truly unrivalled. We look forward to leveraging our software experience to help IBS Software become a world leader in travel and logistics software.”

Founded in 1969, the British-based Apax invests in companies across four global sectors: internet/consumer, tech, services and healthcare. 

In May 2023, software provider Antamedia launched Digital Guide, a web app and guest experience platform, further showcasing the current spread of technological advancements in the hospitality industry.