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IBS Software, a leading SaaS solutions provider to the travel industry, has announced the completion of a transaction to acquire Accenture Freight and Logistics Software, which provides technology platforms to help airline and ocean transportation companies manage freight operations and grow through digital transformation.
The acquisition will strengthen IBS Software’s leadership as a technology provider to the airfreight industry by bringing together complementary solutions and a shared vision for innovating and transforming the air cargo businesses, a company spokesperson announced.
IBS Software logo | Photo Credit: Krishna Chand R
‘Strategically important’
VK Mathews, Executive Chairman of IBS Software, said the acquisition is an important milestone for the company’s cargo and logistics business in its bid to broaden its global footprint, with ocean transportation being a natural adjacent industry to expand into. “It is also a synergistic opportunity to bring decades of our experience and expertise to the ocean cargo business, as well as strengthen our own capabilities to provide greater value to the air cargo customers.”
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‘Growing sectoral disruption’
Anand Krishnan, CEO, IBS Software, said cargo and logistics are vital to the global economy. “It’s an area ripe for growth and hungry for transformation. Recent moves by logistics businesses to enter air cargo as they seek to influence the supply chain at every level are evidence of the growing disruption in the sector. The acquisition will be pivotal in our mission to transform the global supply chain through digital innovation.”
Chennai centre
The spokesperson said, to support this expansion, IBS will open a new development centre in Chennai, its fourth in India, for travel, transportation, and logistics. It will accelerate the company’s mission to transform how travel companies operate in a digital world by delivering next-generation products. Boosting freight business is an increasingly critical priority for airlines and the new acquisition consolidates the latest innovations to accelerate growth, especially its cloud-based collaboration platforms which deliver advancements in airline partnerships – a major focus area for carriers.
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Global supply chain
The acquisition is also an important step in IBS Software’s vision to establish itself as a major player in the global freight supply chain. Accenture Freight and Logistics has a strong heritage in ocean freight innovation with a suite of new-generation platforms that help ocean carriers to automate critical business functions and make data-led decisions for commercial operations. With increasing industry focus on digitisation, expansion into ocean cargo presents a significant growth opportunity. It will also allow it to tap into a talent pool of experts in logistics and supply chain management.
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