IBS Software shares to change hands.
Just over 30% of IBS Software's shares change hands for 450 million USD, VK Mathews remains as majority shareholder, Founder and Executive Chairman.
IBS Software has had some stunning market success recently in the provision of a set of platforms including their community cargo application (iCargo), airline operations (iFlight) and loyalty (loyal). Blackstone purchased just over a third of the shares for 170 Million USD in 2015 from General Atlantic. Apax are buying Blackstone's share for a reported 450 million USD. Timing of the sale is tied to the recent successes. The best news for customers however is that the long-standing Founder and Executive Chairman, VK Mathews will retain the majority of the company and continue in his position. T2RL consider VK Mathews to be an outstanding leader with the right combination of determination and humility. With no significant debt, IBS Software is now worth close to 1.5 Billion USD. Apax Funds make approximately $450m investment in travel tech company IBS Software