TechnoparkToday (Jan, 2024) : In a strategic move to solidify its position in the hospitality market, IBS Software, a leading SaaS solutions provider for the global travel industry, has successfully acquired Above Property Services (APS®) in a landmark $90 million transaction. The acquisition is set to reinforce IBS Software’s standing in the industry and pave the way for an ambitious expansion within the hospitality sector.
IBS Software acquires APS L-R Steffan B Aaron S Peter K.
The key objective of this acquisition is to enable IBS Software to offer a unified platform for seamlessly managing the entire customer journey in the global hotel chain, resort, and gaming markets. APS’s cutting-edge Central Reservation System (CRS), Property Management System (PMS), and Revenue Management System (RMS) solutions will significantly augment IBS Software’s current offerings, which include a widely adopted booking engine and distribution platform used by over 36,000 hotels worldwide, including some of the most renowned establishments.
Founded in 2012 by industry pioneer Aaron Shepherd, APS has revolutionized hotel software by offering a unified, cloud-native microservices platform designed specifically for the hotel enterprise sector. The platform has set new benchmarks for speed, flexibility, and stability in travel and hospitality CRS, PMS, and RMS, empowering businesses to streamline operations and enhance guest connections and revenue streams.
Expressing his enthusiasm for the collaboration, Aaron Shepherd, Founder and CEO of APS, highlighted the shared vision for next-level transformation in travel and hospitality. He noted that the acquisition would provide stability and resources to APS customers while offering IBS Software clients access to a comprehensive modular solution, ushering in a new era of growth.
The transaction is anticipated to substantially extend IBS Software’s market reach, tapping into the growing demand for CRS, as revealed by a recent h2c Global Hospitality Distribution Study. Steffan Berelowitz, Head of the Hospitality Business at IBS Software, is poised to lead the development and expansion of the hospitality business, working closely with Aaron Shepherd. The completion of the transaction is subject to customary closing conditions.
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