IBS Software Services, a leading provider of IT solutions for the travel, transportation and logistic industries, has acquired Atlanta based Hotel Booking Solutions (HBSi).
IBS acquired HBSi by buying over the entire shareholding of Crosslink Capital, the San Francisco based leading private equity and venture capital firm. Crosslinks Capital with over $1.8 billion in investments in around 100 companies,
holds around 96% stake in HBSi.
This multi-million dollar acquisition will bring to IBS' fold over hundred leading players in the hospitality industry including Starwood, Harrahs, Raffles, Ramada, Fairmont and Kerzner on the supply partner side as well as Expedia, Orbitz and Travelocity on the distribution partner side.
IBS has made six strategic acquisition - one in India, two in Europe and three in the USA - in its 15 year history, expanding its solution portfolio to cover travel, hospitality and aircraft engineering areas.
"Strategic acquisition of companies in the industry we operate in is a deliberate growth strategy of IBS to widen our bouquet of offerings to the travel, transportation and logistics industries and to helps us gain domain strength, expand our customer base and accelerate adoption of business innovation,'' said Mr. VK Mathews, executive chairman of The IBS Group.
HBSi is a B2B travel technology and services firm that provides distribution services to leading hotel companies and travel suppliers and has over 80 multinational hotel chains and over 30 leading distributers in its expanding client list.
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IBS Software Services, a leading provider of IT solutions for the travel, transportation and logistic industries, has acquired Atlanta based Hotel Booking Solutions (HBSi).
IBS acquired HBSi by buying over the entire shareholding of Crosslink Capital, the San Francisco based leading private equity and venture capital firm. Crosslinks Capital with over $1.8 billion in investments in around 100 companies,