CM to inaugurate IBS Software’s new campus in Kochi
New facility to support the company’s expansion plans
Kochi / February 2, 2024
Kochi, Feb 02: Embarking on its ambitious expansion plans in Kerala, IBS Software is all set to launch its second fully-owned campus in Infopark here on Sunday, which will help the company to meet the substantial growth in its global business in aviation, hospitality and cruise sectors in the post-pandemic phase with a range of cutting edge digital solutions.
Chief Minister Shri Pinarayi Vijayan will inaugurate the 14-storeyed campus, which is spread over 4.20 acres of land and, in its first phase, can accommodate over 3,000 professionals in 3.2 lakh sq ft of office space.
Infosys Co-founder Shri SD Shibulal, who is also Chairman of High Power IT Committee; IBS Software Independent Director Shri Armin Meier; Senior Managing Director of Blackstone Shri Ganesh Mani; and IT Secretary Dr Rathan Kelkar will be present at the inaugural function.
Since 2005, IBS Software has been operating from Infopark, Kochi from leased offices. The company’s first fully owned campus is located in Technopark, Thiruvananthapuram.
IBS Software Founder & Executive Chairman Shri VK Mathews, addressing a press conference at Grand Hyatt hotel Bolgatty, said the need for a full-fledged additional work space was necessitated by the post-pandemic massive growth in the company’s business, caused by accelerated technology adoption by the travel industry.
“Industry needs best-in-class technology to bring back capacity, improve operational efficiencies and grow market share. IBS Software has been investing significantly in R&D which has enabled it support the industry through this phase of change,” he added.
The period saw significant increase in the company’s businesses in the aviation, hospitality and cruise sectors and it is poised to become the market leader in travel technology. Its business operation is spread across 35 countries, employing over 5,000 professionals from 42 nationalities. Around 35 per cent of the employees are women.
Over the last few years, IBS Software has been making significant acquisitions and also attracting investments, which have given a cutting edge to its global operations. In January this year,it acquired US-based travel technology provider ‘Above Property Services’ for Rs 750 crores, strengthening its brand in the hospitality space. The acquisition will facilitate the company to add state-of-the-art Central Reservation System, Property Management System and Revenue Management System capabilities to its established booking engine and distribution platform, used by over 36,000 hotels worldwide, including many of the world’s largest and best-known hotels and luxury resorts. This is IBS Software’s ninth global acquisition in its 26-year history.
In a landmark deal in November 2023, IBS Software entered into a contract with the Miami- based Royal Caribbean Group, the world's second-largest cruise line operator, making it the market leader in technology solutions for the cruise industry, powering 40 per cent of global cruise business.
In May 2023, UK-based Apax Partners, a major private equity player, invested around USD 450 million (Rs 3,800 cr) in IBS Software for a minority shareholding.
In February 2023, IBS Software acquired the Freight and Logistics software business from Accenture, providing technology solutions for ocean freight and logistics companies. With this acquisition, the company opened its fourth major office in Chennai, the other three being in Thiruvananthapuram, Kochi and Bengaluru. Its overseas offices are located in USA, Canada, Brazil, the UK, Germany, the UAE, Singapore, Japan, South Korea, China, and Australia.
Shri Mathews said most businesses are evolving into technology businesses, and companies must use technology more intensely than before in order to survive and succeed. “The pandemic has only accelerated this trend. The travel industry is no different. In a digitally connected world of thousands of travel suppliers and billions of consumers, the business focus is shifting from the supply side to the demand side. Travel companies will have to personalise their offerings to give the consumers what they want rather than what they have,” he noted.
“As the industry recovers from the pandemic and pent-up demand manifests, there is a need to make travel better than just safer. All these mean that the role of technology is becoming more prominent for the travel industry than ever before. Going forward, the value of an enterprise will tilt more towards digital assets than physical assets. So the success of travel companies will depend on increasing the technology intensity in businesses to drive innovation. This is where IBS Software has a significant role to play,” he said.
Noting that 2023 was a phenomenal year for IBS Software, Shri Mathews said there is a huge potential for further growth. “We will continue to invest heavily in R&D, acquire companies which offer synergy to our existing businesses and expand managerial bandwidth through talent acquisition. It is our vision to redefine the future of travel through technology innovation.”
ENDS
