Trivandrum: Leading global provider of next generation IT solutions for the Travel, Transportation and Logistic industries, IBS Software Services, has acquired Atlanta based Hotel Booking Solutions (HBSi). Technopark, Trivandrum based IBS’ acquisition of HBSi was made by buying over the entire shareholding of Crosslink Capital, the San Francisco based leading Private Equity and Venture Capital Firm. Crosslinks 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, centralize 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 including leading names like Starwood, Harrahs, Raffles, Ramada, Fairmont and Kerzner on the supply partner side as well as Expedia, Orbitz and Travelocity on the distribution partner side. The acquisition is part of IBS strategy to expand its business portfolio, by providing additional services and solutions to this 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. IBS has made six strategic acquisition – one in India, two in Europe and three in the USA – in its 15 year history, expanding its solution portfolio to cover travel, hospitality and aircraft engineering areas.
“Strategic acquisition of companies in the industry we operate in is a deliberate growth strategy of IBS. Not only does it widen our bouquet of offerings to the travel, transportation and logistics industries but also helps us gain domain strength, expand our customer base and accelerate adoption of business innovation. As we set ourselves for aggressive growth and expansion, we will continue to be on the lookout for more inorganic growth opportunities to gain competitive advantage and enhance industry position”, said V K Mathews, Executive Chairman, The IBS Group.
Kerala IT News