Apax Partners

According to sources close to the deal, the value of the acquisition is Rs 6,500-7,000 crore

The investment will be made through KKR's Asian Fund IV, according to Monday's statement, which didn't disclose financial details

Puri also previously served as the Chairman of JP Morgan Chase for South and Southeast Asia and currently sits on the Boards of Tata Sons, Hindustan Unilever, and Dr. Reddy's

Fair trade regulator Competition Commission of India (CCI) on Wednesday said it has approved Apax Partners' proposed acquisition of the stake in IBS Software Pte. The proposed combination relates to the acquisition of approximately 30 per cent of the issued share capital on a fully diluted basis of IBS Software Pte Ltd from Techware Singapore Holdings Pte Ltd, a portfolio company of Blackstone Inc by Pelipper HoldCo SARL, according to an official release. Pelipper HoldCo SARL is a special-purpose vehicle indirectly wholly owned by investment funds advised by Apax Partners LLP. IBS Software Pte is the parent company of the IBS group of companies, which is mainly active as a software vendor and predominantly for the aviation and travel industry. In May this year, global travel and logistics SaaS company IBS Software said Apax Funds will buy a minority stake in the company for USD 450 million. Post the latest transaction, IBS Software's Founder and Executive Chairman V K Mathews will

Global travel and logistics SaaS company IBS Software on Monday said Apax Funds will buy a minority stake in the company for USD 450 million. Post the latest transaction, IBS Software's Founder and Executive Chairman V K Mathews will remain the majority shareholder. "Funds advised by Apax Partners LLP (Apax) announced today that they have reached a definitive agreement to invest approximately USD 450 million to acquire a significant minority stake in IBS Software, a leading provider of modern Software-as-a-Service (SaaS) solutions to the global travel and logistics industry, from Blackstone, the world's largest alternative asset manager," a company press release here said. Founded in 1997 in Thiruvananthapuram, IBS Software provides SaaS solutions that power operations in aviation, tour and cruise, hospitality and logistics companies across the globe, with a team of 4,000 professionals. Apax Partners LLP is a leading global private equity advisory firm, which for 50 years has raise

To acquire Blackstone's minority stake in the software-as-a-service solutions provider

Dynasty Acquisition, an affiliate firm of the PE player, sold close to 8 million shares at Rs 1,300 apiece

The deal values the software business higher than the market capitalisation of the entire company (3i Infotech) which stands at around Rs 908 crore

Since 2007, Apax has invested $2 billion in India but has already returned over $2.5 billion in exits