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.

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.

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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.