Travel technology supplier IBS Software has acquired Above Property Services (APS), a hotel technology specialist.
The $90 million transaction will help IBS Software accelerate the growth of its brand in the hospitality sector, according to a statement announced Tuesday.
“The strategic acquisition will enable IBS Software to provide the only unified platform in the hospitality industry for seamlessly managing the entire customer journey from booking to fulfillment for the global hotel chain, resort and gaming markets,” the statement added.
It also said the deal will bring central reservation, property management and revenue management technology to IBS.
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APS founder and CEO Aaron Shepherd and the team are joining IBS.
“APS has successfully developed the only unified, cloud-native microservices platform that frees operators from the limitations of legacy, monolithic technologies, providing flexibility, speed and the ability to scale infinitely,” Shepherd said. “Today’s news gives APS customers the stability and resources of a large, multinational travel leader and will give IBS Software clients and partners access to the most modern and comprehensive modular solution in the industry, ushering in a new era of growth and propelling them to new heights.”
Peter Krebs, head of travel and hospitality solutions at IBS Software, said, “There is an unmet need in the hospitality industry to simplify how rooms and other services are sold. Too many businesses are being held back by legacy technology that prevents them from living up to their potential. It’s vital they have the tools they need to be effective in a rapidly changing marketplace. We were blown away by the capabilities of the groundbreaking APS platform and the value it delivers to travel businesses, providing them with the power to simplify their tech stack to instantly create new services and offers.”