IBS Software acquires US aviation maintenance firm

Bangalore: IT solutions vendor IBS Software Services is foraying into the aircraft maintenance, repair and overhaul (MRO) business by aqcuiring 100 per cent equity in US-based aviation maintenance and engineering (M&E) company Visaer Inc.
IBS Software chairman and CEO V K Mathews said on Thursday that the acquisition had been completed in April this year and has a cash component as well as earnout segment payable over the next three years.
Mathews declined to specify investments involved in the acquisition of Visaer Inc which has prominent customers like China Southern Airlines, Qantas Airways, Wood Group Gas Turbine Services and Copa Airlines among its clientele in the M&E space.
"With the Visaer acquisition, IBS will add depth to its portfolio and strive for leadership in the global airlines MRO space. We see an addressable market which comprises 3-5 per cent of the total MRO pie".
The acquisition will include the operating assets of Visaer in the US and the UK, employees, and global customer base, besides the 50-people strong company's Web-based MRO software system "Visaer".
With this, Boston-based Visaer will join an array of IBS products catering to airline operations, the other products being AvientCrew for airline crew management, AvientFleet for airline fleet management, and TopAir for integrated flight operations.
21/05/08 Business Standard

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