APAX IBS
PE fund Apax to step up India play with new team
The Apax strategy is more pivoted toward control deals, given its focus on being able to have a seat on the table to drive changes. It is, however, open to partnering with quality founders and management teams in minority settings "where there's a meeting of minds," Haldea said.
Apax India hires veteran Leo Puri
Leo Puri has been hired as an Advisor and chairman of Apax India. He will provide mentorship, strategic advice, and assess new investment opportunities. With a wealth of experience, Puri will work closely with Anurag Sud, Rohan Haldea, and the Apax Funds to drive success in India.
CVC, Warburg in race to acquire digital technology firm To The New
The deal will value To The New at $600 million, sources said. Founded by IT veterans Deepak Mittal, Narinder Kumar, Raman Mittal and Satya Sharma, To The New is a new-age digital technology services firm providing product engineering, cloud, and FinOps services to enterprises, SaaS, and consumer tech companies.
Apax to acquire Blackstone's stake in IBS Software for $450 million
Following the transaction, Apax will partner closely with IBS Software’s Founder and Executive Chairman, V K Mathews, who will remain the majority shareholder, the PE firm said in a statement.
Apax leads race for $450-$500M stake buy in IBS
Apax is believed to have offered $450-$500 million for the stake, valuing IBS Software at $1.4-$1.5 billion, they said. JP Morgan is advising Blackstone to find a buyer for its stake. Apax, CVC Capital and Thomas H Lee Partners had been shortlisted for the stake sale, ET reported on April 12.
Apax, CVC Capital, TH Lee bid for Blackstone's 32% stake in IBS Software
This proposed transaction is likely to value IBS Software at $1.5 billion. JP Morgan is advising Blackstone to find a buyer for its stake. The deal is expected to get signed by the end of April, sources said.
