IBS acquires major stake in HBSi

Thiruvananthapuram: IBS Software Solutions, a leading provider of IT solutions to the global Travel, Transportation and Logistics industries, based at Technopark here has acquired the majority stake in the Atlanta-based Hotel Booking Solutions Incorporated (HBSi) in a ‘cash and earn out deal’.
Announcing this at a news conference here on Thursday, IBS chairman and CEO V K Mathews told reporters that the acquisition would commence the company’s foray into the hospitality industry. The HBSi comes with more than 30 clients, which includes the who’s who in the hospitality industry in the US and Canada. It is the fourth major acquisition by IBS. The company had acquired TopAir from EDS (Switzerland, 2002), Avient Technologies from Honeywell Corporation (UK, 2003) and Discovery Travel Systems (USA, 2006).
28/03/08 Newindpress

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Categories: Foreign Mar 2008, Indian Aviation- In General Mar 2008, New Mar 2008