IBS buys US-based travel software co HBSi

Thiruvananthapuram-based IBS Software has acquired a majority stake in Atlanta-based Hotel Booking Solutions Inc (HBSi).


V K Mathews, chairman and managing director, IBS Group, said that the company has bought out HBSi in a cash deal. "We have picked up 66% in HBSi on a completely cash-and-earn-out deal. By doing this we now have ensured a better control over the company, whose operations are in a similar platform as ours." He however refused to divulge the exact amount involved in the deal.

Adding that HBSi, which is a pioneer in the demand management offerings to the global travel industry, Mathews pointed out that the acquisition would help IBS to tap the huge untapped potential market of home stays and serviced apartments in the country by offering them total booking and billing solutions. "We are also in the process of readying a plan to present before the Ministry of Tourism offering our expertise in the travel and tourism space which has now been boosted even more with the buy out of HBSi," he added.

Mathews pointed out that the acquisition of HBSi brings to IBS access to domain expertise and technologies that will help it in the travel, tourism and logistics space establish a firm foothold in the booming hospitality industry. HBSi has a prestigious clientele, with names like Hyatt Hotels, Fairmont Hotels, Elite Island Resorts and Intrawest.

The current acquisition is the fourth global one for IBS, with the company having bought out TopAir from EDS, Avient Technologies from Honeywell Corp and Discovery Travel Systems earlier.