/24-7PressRelease/ - TRIVANDRUM, March 29, 2008 - IBS Software, a leading provider of IT solutions to the global Travel, Transportation and Logistics industries, today announced that it has acquired a majority stake in Atlanta based Hotel Booking Solutions Incorporated (HBSi), a leading provider of IT solutions to the hospitality industry. With this acquisition, IBS enters the Hospitality sector augmenting its existing Travel & Cruise line of business. This is a major acquisition for IBS and its 4th globally, having previously acquired TopAir from EDS (Switzerland, 2002), Avient Technologies from Honeywell Corporation (UK, 2003) and Discovery Travel Systems (USA, 2006).
HBSi is credited with introducing Demand ManagementTM to the global travel industry and offers technologies and services that bring order and simplicity to the distribution of hotel products. HBSi provides a platform that connects hotel companies and distribution partners, enabling them to exchange data on hotels' room availability, rates, and bookings instantaneously in a controlled environment. This eliminates time-consuming, error-prone manual processes that disrupt the flow of commerce and allows both sides to significantly enhance their revenue potential. Well known hotel brands like Hyatt Hotels & Resorts, Fairmont Hotels & Resorts, Elite Island Resorts and IntraWest, and travel distribution companies like Orbitz Worldwide, Travelocity and Booking.com use the HBSi products.
On the occasion, V K Mathews, Chairman and CEO, IBS Group said, "This acquisition gives us access to domain expertise and technologies that will help us establish a firm foothold in the booming global hospitality industry. This also allows us to offer a more comprehensive range of products and services, furthering IBS' intent to becoming the preferred supplier of new-generation solutions to the global travel and transportation industries."
The combination of IBS' existing travel industry domain expertise and global reach, teamed up with HBSi's hospitality expertise and sophisticated products will enable a much faster and broader growth for IBS' Travel, Cruise and Hospitality business. Through this deal, IBS will also benefit from the industry experts joining the IBS fold and the host of well known hotel and travel distribution brands that will be added to its existing customer list.
"Partnering with IBS will give HBSi many advantages, most importantly make the sales reach truly global and give HBSi access to IBS' world-class development centers, significantly enhancing service delivery capability, said Peter Cefai, Chairman HBSi, and EVP & Head, Global Sales and Marketing, IBS. "The backing of a well established software company like IBS will also give fillip to HBSi's ability to develop new products and services for the hospitality sector," he added.
About Hotel Booking Solutions Incorporated
Hotel Booking Solutions Incorporated (HBSi) is credited with introducing Demand ManagementTM to the global travel industry and offers technologies and services that bring order and simplicity to the distribution of hotel products. Enabled by HBSi's Demand GatewaySM distribution platform, members of the HBSi Supply Partner Network and Demand Partner Network can connect according to their business needs, rather than by historically restrictive technology constraints. As part of the IBS Group, HBSi's Supply and Demand Partner Networks bring together industry leaders such as Hyatt, Fairmont, IntraWest, and Travelocity, Orbitz Worldwide, Certified Vacations, Travel Impressions, Booking.com. For more information, visit http://www.hotelbookingsolutions.com
About IBS
The IBS Group (IBS) is a leading global provider of new-generation IT solutions to the Travel, Transportation and Logistics industries. A specialist in the domain, IBS offers a range of products and services that manage mission-critical operations of major airlines, airports, oil and gas companies, seaports, cruise lines and tour operators world-wide. SEI CMMI Level 5 and PCMM Level 5 assessed, ISO 9001:2000, TickIT and ISO 27001:2005 certified, IBS operates five software development centres across the world. With some of the world's leading corporations as customers, IBS has business operations in the Americas, Europe, Asia-Pacific, the Middle East and Africa, supported through 12 global business centres. More information on IBS is available at http://www.ibsplc.com.
For media enquiries, please contact Satish Nair at +91-471-2700080 or email: SatishN@ibsplc.com
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