The Hindu Business Line : IBS Soft acquires US firm to enter hospitality space

Thiruvananthapuram, March 28 IBS Software, a leading provider of IT solutions to the global travel, transportation and logistics industry, has announced its foray into the hospitality sector through the acquisition of Hotel Booking Solutions Inc (HBSi) based in Atlanta, US.

HBSi is a leading provider of IT solutions to the hospital industry and the acquisition jells with the IBS plan to diversify operations through lateral forays into allied business activity. Fourth in the series of deals being consummated abroad since 2002, the acquisition will augment the company’s existing travel and cruise business, according to Mr V.K. Mathews, Chairman and CEO, IBS Group.

“The acquisition gives us access to domain expertise and technologies that will help us establish a foothold in the booming global hospitality industry.

“This enables us to provide a more comprehensive range of products and services,” Mr Mathews told newspersons here on Thursday.

HBSi is credited with having introduced ‘Demand Management’ to the travel industry and offers technologies and services that bring order and simplicity to the distribution of hotel products.

It provides a platform that connects hotel companies with distribution partners, enabling them to exchange data on hotels’ room availability, rates and bookings instantaneously in a controlled environment.

It eliminates time-consuming, error-prone manual processes that disrupt the flow of commerce and allows both sides to significantly enhance their revenue potential.

Among users of HBSi products are well-known brands such as Hyatt Hotels and Resorts, Fairmont Hotels and Resorts, Elite Island Resorts, Intravest, and travel distribution companies such as Orbitz Worldwide, Travelocity and Booking.com.

Mr Peter Cefai, Chairman, HBSi, expressed the hope that backing from an established software company such as IBS would give a fillip to his company’s ability to develop new products and services for the hospitality industry.

IBS operates five software development centres at Kochi, Bangalore, London, Thiruvananthapuram and Washington DC and has business operations based out of the Americas, Europe, Australia-New Zealand, West Asia and Africa, and Asia.

Recently, private equity major General Atlantic had invested Rs 240 crore in the company.

More Stories on : Mergers & Acquisitions | Hotels | Software

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