The Hindu Business Line : IBS Software acquires land in Technopark

IBS Software Services, a leading player in the travel, transport and logistics sectors, has signed an agreement with Technopark authorities here to acquire five acres of prime land in the campus.

Announcing the acquisition, Mr V.K. Mathews, Chairman and Managing Director, said IBS had reached a stage where it would need to have its own office complex to address immediate growth plans. "We will be building a modern facility that can accommodate up to 2,000 employees," Mr Mathews said. Currently, the company operates out of leased space in the `Nila' and `Chandragiri' buildings at Technopark.

The acquired land lies close to the main gate leading to the Technopark campus. The building coming up here will house the company's expanding software development facilities. Since inception in 1997, IBS has recorded consistent growth in turnover as well as employee strength. The company recently opened its second development centre at Infopark in Kochi, which will formally start functioning from Monday.

The next few years would be crucial in terms of growth, with an initial public offering tentatively scheduled for October next year. The decision to build its own software development complex reaffirmed the company's bonding with Technopark as well as with the city of Thiruvananthapuram, Mr Mathews said.

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