IBS Software invests in HBSi
Published: 27 Mar 2008
IBS Software Services, PLC, has acquired the controlling interest in Hotel Booking Solutions, Inc, (HBSi).
This investment will provide IBS with a hospitality extension to its existing travel, cruise and hospitality line of business, as well as positioning IBS to leverage newly developed HBSi technology as an alternate option for message brokering across the larger travel industry. Together, IBS and HBSi will deliver a platform for the distribution and sale of hotel products to all classes of distribution channels on a global basis.
V K Mathews, Chairman and CEO, IBS Group said "This investment position gives us access to new, disruptive technologies and hospitality domain expertise that will help us establish a firm foothold in the booming hospitality industry. This also allows us to offer a more comprehensive range of products and services to the global travel industry. IBS' global reach will allow HBSi to expand outside of its current North American marketplace and service customers irrespective of their source or destination geography."
"Today IBS has an extensive array of technology products and services supporting almost all principle verticals within the travel industry's air, car, cruise, tour, resort and transportation segments. By incorporating HBSi's strength in hotel distribution IBS will have achieved a full 360o relevance to all principle segments of the global travel industry," stated an official release.
Peter Cefai, Chairman HBSi, and EVP and Head, Global Sales and Marketing, IBS said the acquisition will enhance company's ability to develop broader travel demand and supply partner networks much faster and make its sales reach truly global.
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