IBS Software, an India-based SaaS solutions provider for the travel industry, is set to acquire US-based Above Property Services (APS), a hotel and travel technology provider, for approximately $90 million. This strategic move aims to strengthen IBS Software’s position in the hospitality market and enhance its brand. The acquisition will enable IBS Software to offer a unified platform in the hospitality industry for managing the entire customer journey, from booking to fulfilment, targeting global hotel chains, resorts, and gaming markets.
The deal expands IBS Software’s portfolio with advanced Central Reservation System (CRS), Property Management System (PMS), and Revenue Management System (RMS) solutions. The addition of Call Center and Demand-side solutions complements its existing booking engine and distribution platform, currently utilized by over 36,000 hotels globally, including major hotel chains and resorts.
The founder and Executive Chairman of IBS Software, V K Mathews, expressed optimism about the acquisition’s impact on the company’s offerings in the hospitality sector. He sees APS as a disruptor in the travel tech industry, with a visionary leader in Aaron Shepherd, the founder and CEO of APS. Mathews believes that APS’s innovative approach to streamlining complex processes in the hospitality sector will enhance IBS Software’s market reach.
Founded in 2012 by Aaron Shepherd, APS has been a pioneer in developing leading hospitality PMS and CRS solutions. The company’s cloud-native microservices platform has set new standards for speed, flexibility, and stability in travel and hospitality CRS, PMS, and RMS. This acquisition aligns with the shared vision of IBS Software and APS to accelerate transformation in travel and hospitality and provide exceptional value to clients.
Steffan Berelowitz, Head of the Hospitality Business at IBS Software, will lead the development and expansion of the hospitality business, collaborating closely with Aaron Shepherd. The deal positions IBS Software to tap into the growing demand for CRS, with a substantial extension of its total addressable market.
In conclusion, the acquisition of APS by IBS Software is a strategic move to offer a comprehensive solution for managing the customer journey in the hospitality industry, catering to the evolving needs of global hotel chains and resorts.