Some 26 years ago, Valayil Korath Mathews quit his job in Emirates as the head of the airline’s IT, because he spotted a gap. Today, he is sitting on a business that has been valued at $1.5 billion (a few months ago Blackstone sold its 30 per cent stake in the firm to Apax for $450 million) and powers the world’s biggest travel companies. “About 53 per cent of every piece of cargo that moves by air is managed by our software. And, if you set aside the homegrown loyalty programmes of companies like United and Delta, then 23 per cent of the loyalty business of airlines is run on IBS software,” says Mathews.
Read how he describes how the company has developed five platforms for the travel sector >>
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