IBS gets funding

After investing in some of the big names in India such as NSE, NDTV, Genpact and Patni; General Atlantic, an active investor in India, recently shook hands with Kerala based IBS Software Services. GA will invest $60 million in this IT solution provider for Travel, Transportation and Logistics industries and thus became a minority stakeholder of IBS Software Services.
With a customer base of more than 70 in travel, transportation and logistic sector which include the world’s top airlines, busiest airports, top cruise lines as well as the top oil and gas companies, IBS is hoping for a lot from this investment.
In order to provide the strategic assistance, Abhay Havaldar, Managing Director of General Atlantic, will join the IBS’ board of directors. General Atlantic has been an active investor in India since their entry here in 2002 with their first investment in Patni; after which they have already invested $1 billion in 10 companies in India.
10/08/07 Express Computers

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Categories: General Aviation Aug 2007