IBS Software Services, a global provider of next generation IT solutions for travel, transportation and logistic industries, has acquired Atlanta-based Hotel Booking Solutions (HBSi).
The acquisition was made by buying over the entire shareholding of Crosslink Capital, the San Francisco-based leading private equity and venture capital firm. Crosslink Capital has over $1.8 billion in assets with investments in around 100 companies.
HBSi is a B2B travel technology and services firm that provides distribution services to leading hotel companies and travel suppliers by linking their CRS systems to distribution channels for instant transmission of room availability, rates, inventory and reservation confirmations.
The connectivity helps travel suppliers and distributors expand reach, centralise operations and increase revenue potential. HBSi has over 80 multinational hotel chains and over 30 leading distributers in its expanding client list.
This multi-million dollar acquisition will bring to IBS’ fold over hundred leading players in the hospitality industry both in the supply partner side and on the distribution partner side.
V.K. Mathews, Executive Chairman, IBS Group, said in a statement that the acquisition is part of IBS strategy to expand its business portfolio, by providing additional services and solutions to huge client base, such as IBS’ e-Commerce services for B2C distribution, CRM and customer loyalty management and analytics services for yield and revenue optimisation.