Blackstone invests $170 million in India's IBS Software

MUMBAI (Reuters) - U.S. private equity firm Blackstone Group LP has bought a minority stake in India's IBS Software for $170 million from General Atlantic and other shareholders, according to a joint statement.

General Atlantic has been invested since 2007 in IBS, an IT services provider for travel and logistics businesses. The deal is expected to close within a month, subject to regulatory approvals, the statement said.

(Reporting by Karen Rebelo; Editing by Rafael Nam)