- IBS Software is a provider of SaaS products to the travel industry globally
- Blackstone acquired IBS Software in 2015
- Blackstone is New York-headquartered private equity firm with $951bn of assets under management
IBS Software, backed by Blackstone, has completed the acquisition of Accenture Freight and Logistics Software (AFLS). No financial details of the transaction were disclosed.
AFLS offers technology platforms to help airline and ocean transportation companies manage their freight operations and grow through digital transformation and innovation. AFLS was a subsidiary of Accenture. Accenture is headquartered in Dublin, Ireland.
The acquisition will support the expansion of IBS Software’s footprint in the global freight supply chain, accelerating digital transformation and innovation, according to a release.
IBS Software will open a new development centre in Chennai, its fourth in India, for travel, transportation, and logistics, the release stated.
“Recent moves by logistics businesses to enter air cargo as they seek to influence the supply chain at every level are evidence of the growing disruption in the sector,” said Anand Krishnan, CEO, IBS Software. “AFLS will be pivotal in our wider mission to transform the global supply chain through digital innovation.”
Blackstone first invested in IBS Software in 2015.
Blackstone is New York-headquartered private equity firm. The firm has $951 billion of assets under management, with $283 billion of that in its private equity strategy.
IBS Software is a provider of SaaS products to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise and hospitality industries. The firm is based in Trivandrum, India and operates from 15 offices across the world.
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