The Hindu Business Line : IBS Soft buys IS firm VISaer

Bangalore, May 21 IBS Software, a provider of IT solutions to the global travel, transportation and logistics industries, has acquired 100 per cent Boston-based VISaer, a player in aviation maintenance and engineering software solutions.

“Aircraft maintenance, repair and overhaul are vital functions for airlines and VISaer completes our portfolio of solutions and fills any product gaps,” said Mr V.K. Mathews, Chairman and CEO, IBS Group. “The emergence of India as a global aerospace engineering hub will help us gauge developments in the industry and enhance the product’s functionality to cater to both global as well as Indian aviation,” he said. The acquisition also gives IBS access to VISaer customers worldwide, added Mr Mathews.

The acquisition, to be consummated in April 2008, is a cash plus earn-out deal, with earn-out payment up to 2011. The company will operate as IBS Technics, a fully owned subsidiary of IBS. This is IBS’s fifth acquisition globally.

IBS’s portfolio of solutions are airline cargo and logistics; travel, cruise and hospitality management; oil and gas logistics; ocean transportation; and airline and airport operations. It clients include Cathay Pacific, Qatar Airways, Jet Airways, Celebrity Cruises, Shell International and British Petroleum.

It operates software development centres in Kochi, Bangalore, London, Thiruvananthapuram, Atlanta and Washington DC and 14 business offices across Americas, Europe, Australia-New Zealand, West Asia, Africa and Asia.

More Stories on : Mergers & Acquisitions | Software | Airlines

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