The Service of the Commission for the Protection of Competition has received a notification of a concentration concerning the proposed acquisition of part of the share capital of IBS Software Pte. Ltd by Apax Partners LLP, via Pelipper HoldCo SARL.
Pelipper Holdco Sarl is a limited liability company duly registered under the laws of Luxembourg. It is a special purpose vehicle, with no prior business activities, which was formed to act as an acquisition vehicle for the purposes of this transaction. It is indirectly owned by investment funds which belong to Apax Partners LLP.
Apax Partners LLP is a limited company duly registered under the laws of the United Kingdom. It is the parent company of a number of entities that provide investment advisory services to private equity funds that invest in various industrial sectors.
IBS Software Pte. Ltd is a company duly registered under the laws of Singapore. It is the parent company of the IBS Group of companies. The IBS Group is primarily active as a software vendor for the airline, tour and cruise, hospitality, energy resources and travel industries. It also provides IT services, offering consulting services, data migration, support for testing and building new applications. Currently it belongs to a natural person, who will remain as a shareholder after the completion of this transaction. The natural person controls other companies which do not operate within the Republic of Cyprus.