Thiruvananthapuram, Jan 16 Thiruvananthapuram-headquartered IBS Software, a leading SaaS solutions provider to the travel industry globally, has reached an agreement to acquire hotel and travel technology provider Above Property Services (APS).
The $90 million-transaction will further solidify IBS Software’s position in the hospitality market and strengthen the brand, to underpin an ambitious expansion of its reach in the hospitality industry.
The strategic acquisition will enable IBS Software to provide the only unified platform in the hospitality industry for seamlessly managing the entire customer journey from booking to fulfillment for the global hotel chain, resort, and gaming markets, it said.
APS was founded in 2012 by Aaron Shepherd, said IBS Software and both it and APS both recognise the crucial need to accelerate next-level transformation in travel and hospitality to create unparalleled value for its clients.
IBS Software Founder and Executive Chairman V.K. Mathews said that this acquisition will significantly enhance IBS Software’s offerings in hospitality, expanding its market reach and winning market share in multiple segments, including medium to large hotel chains as well as luxury, resort and gaming customers.
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