IBS moves into leisure travel and tour industry
Thiruvananthapuram, Apr 6: The IBS software services, a leading provider of software solutions to the travel, transport and logistic industries, has announced its asset purchase agreement with Discovery Travel Systems, LP (DTS), based in Washington, USA.
Talking to newspersons here yesterday IBS Chairman and Managing Director V K Mathews said the acquisition was the second in recent times by IBS and was in line with its strategy for inorganic growth through mergers and acquisition, marking company's entry into the liesure travel and tour industry.
As a reult of the acquisition, the DTS' three core products, such as tour, cruise and ship partners, have become part of the IBS portfolio, he said.
Mr Mathews said with customers all over the world, and predominantly in North America, DTS would leverage IBS' extensive resource pool, global presence and delivery capablities to meet customer needs and further enhance their area of operations.
Major cruise companies in the world like Cunard, Royal Carribean, MSC and Star Cruise and Brendan Vactions are some of the clients of DTS, he said.
He claimed that the acquisition would help create a Travel and Cruise Line Business for IBS and would position it as the leading provider of technology systems for the challenging business requirments of tour packagers, vaction travel markets and cruise lines.