Blackstone invests $170 million in IBS Software
Bengaluru, India | Red Newswire | Dec 22, 2015 Last Updated at 05:00 PM IST.
World’s largest investment and private equity firm Blackstone has decided to make an investment of $ 170 million (Rs.1, 132 crore) in IBS Software. The procedures were completed in 6 months. This is the second time that IBS receives capital investment from a global private equity. Earlier General Atlantic (GE), a leading growth equity firm has invested in IBS since 2007.
IBS Software, a Thiruvananthapuram-based software products company, was started in 1997 with 55 employs. Now the company has 3,000 professionals from 20 nations, across nine offices and provides software products to airlines, airports, and oil & gas companies.
Blackstone is a global private equity major, with assets under management in excess of $334 billion. “investment by a global Tier-1 PE is a true endorsement not only of the relevance and significance of what we do & our financial strength, but also a validation of our industry vision, the business model that we operate and standards of corporate governance,” said VK Mathews, IBS Group.
Blackstone has been investing in India since 2005. “We foresee significant growth opportunity for IBS, driven by company’s deep domain knowledge, its portfolio of products and roster of referenceable customers,” said Amit Dixit, Senior Managing Director & Co-Head of PE, Blackstone in India.
Investment by GE in IBS Software since 2007 was the primary investment by a global private equity in an Indian software products company.
By: Aswathi Ashok @Rednewswire