Blackstone is buying out General Atlantic, a leading growth equity firm that has invested in IBS since 2007, and other shareholders, IBS said in a release.

It said the transaction is expected to close within a month, subject to customary regulatory approvals.

IBS said it has a global presence, with nearly 3,000 professionals across nine offices. It provides a range of new-generation software products to some of the world's best airlines, busiest airports, leading cruise lines, major travel distributors and top oil and gas companies.

There is no material change in the majority shareholding pattern in IBS Software as the initial PE investor General Atlantic exits as a result of this transaction, the release added.

"We foresee significant growth opportunity for IBS, driven by the company's deep domain knowledge, its portfolio of products, and roster of referenceable customers," said Amit Dixit, Senior Managing Director and Co-Head of Private Equity in India at Blackstone.

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