IBS Software acquires AFLS, enters air and ocean freight sector

▤ Summary

The completion of the acquisition process was announced by IBS, which provides Software as a Service (SaaS) to the travel industry around the world, a release issued by it on Wednesday said. "The acquisition will strengthen IBS Softwares leadership as a technology provider to the airfreight industry by bringing together complementary solutions and a shared vision for innovating and transforming the air cargo businesses," it said.V K Mathews, Executive Chairman of IBS Software, termed the acquisition as a "strategically important milestone" for his companys cargo and logistics business and to broaden its global footprint. "Recent moves by logistics businesses to enter air cargo as they seek to influence the supply chain at every level are evidence of the growing disruption in the sector. AFLS will be pivotal in our wider mission to transform the global supply chain through digital innovation," he said.IBS, in its release, further said that boosting the freight business was a critical priority for airlines and the AFLS acquisition consolidates latest innovations to accelerate growth, especially its cloud-based collaboration platforms which deliver advancements in airline partnerships - a major focus area for carriers.The acquisition is also a strategic step in recognising IBS Softwares vision to establish itself as an end-to-end player in the global freight supply chain, it further said. Further, the transaction helps IBS Software to deploy its cargo and logistics management expertise in the ocean transportation sector," the release said.In furtherance of its expansion plans, IBS Software also plans to open a new development center in Chennai, its fourth in India, for travel, transportation and logistics, it said.

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