Blackstone-backed IBS to buy aviation software provider AD OPT
IBS Software has agreed to acquire AD OPT, a Montréal-based provider of airline crew planning optimization software solutions. Terms weren't released for the deal, which IBS described as a "multi-million dollar acquisition." The seller is Kronos Inc, which acquired AD OPT in 2004. Kronos, a U.S. workforce management software and services company, is owned by Hellman & Friedman. IBS, an Indian software company focused on the travel, hospitality, logistics and oil and gas sectors, said the purchase will make it a top technology provider to the aviation industry. IBS is backed by U.S. private equity firm Blackstone Group, which acquired a minority stake in 2015.
21 May 2019•4 mins read
