IBS Software Acquires APS® for $90 Million as It Targets Major Growth in Hospitality Sector
ATLANTA, Jan. 16, 2024 /PRNewswire/ -- IBS Software, a leading SaaS solutions provider to the travel industry globally, has reached an agreement to acquire the ground-breaking hotel and travel technology provider Above Property Services (APS®). The $90 million transaction will further solidify IBS Software's position in the hospitality market and strengthen the brand, to underpin an ambitious expansion of its reach in the hospitality industry.
- The $90 million transaction will further solidify IBS Software's position in the hospitality market and strengthen the brand, to underpin an ambitious expansion of its reach in the hospitality industry.
- APS was founded in 2012 by Aaron Shepherd, an industry pioneer who developed a number of the world's leading hospitality PMS and CRS solutions.
- Peter Krebs, Head of Travel & Hospitality Solutions at IBS Software, commented: "There is an unmet need in the hospitality industry to simplify how rooms and other services are sold.
- Steffan Berelowitz, Head of the Hospitality Business at IBS Software, will lead the development and expansion of the hospitality business, working closely with Aaron Shepherd.