General Atlantic, a private equity player, today announced an investment of $60 million (Rs 242 crore) in Kerala-based IBS Software Services -- which provides IT solutions for the transport and logistic industries -- to pick up a minority stake.
IBS is also building two campuses in India with an estimated cost of Rs 200 crore -- one in Thiruvananthapuram and another in Kochi with a capacity to accommodate 8,000 people. The campuses will be used for product development and support services for the travel, transport and logistics verticals. The first phase of the centre in Thiruvananthapuram will be operational in a few months time.
Meanwhile, IBS is looking at acquiring a US-based aircraft maintenance and repair solution company, and planning to foray into the shipping and ports vertical by designing customised solutions.
As part of the shipping vertical, IBS Software has already formed a core group of intelligence (CGI) by including representatives from various international ports and shipping companies.
(Source: Business Standard)
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