The global PE major will buy out the stake that General Atlantic has held in the technology firm since 2007
Global travel, transportation and logistics technology firm IBS Software on Wednesday said it will receive $170 million (about Rs 1,136 crore) of funding from private equity major Blackstone in lieu of an undisclosed minority shareholding. Blackstone is buying out the stake that PE firm General Atlantic has held in IBS since 2007, as well as that of other shareholders. The transaction is expected to close within a month, subject to customary regulatory approvals.