Apax Partners LLP, a global private equity advisory firm, has acquired a $450 million significant minority stake in IBS Software, a provider of modern SaaS services to the global travel and logistics industry, from Blackstone.

IBS delivers next-generation SaaS services powering mission-critical operations for aviation, tour and cruise, hospitality and logistics firms. The firm assists travel companies in accelerating innovation and efficiency across cargo and logistics, flight operations, passenger services, loyalty programs, cruise operations, energy & logistics and hospitality distribution platforms.

“We are thrilled to partner with the management team at IBS Software,” says Jason Wright, a partner with Apax. “Having closely monitored the travel software sector over the last several years, IBS Software stood out to us as uniquely positioned in the industry, offering a next-gen software suite that we believe is truly unrivalled. Over the last two decades, IBS Software has invested in products, innovation, and culture, while continuing to scale the business. We believe there is tremendous growth potential ahead and look forward to leveraging our software experience to help IBS Software become a world leader in travel and logistics software.”