The takeover was announced in October but has only just been formally completed.
"This level of investment was absolutely essential. If you look at the clubs
who have been promoted from this division in the last five years they have all
had either a parachute payment or a benefactor," said Ipswich chief executive Derek Bowden.
"We've struggled manfully without either - most notably three seasons ago
when we finished third - and this year we have done very well.
"But we are hovering around the play-offs and in order to have a real go at
winning promotion we do clearly need to spend more on the playing side."