IBS Software, a leading SaaS provider, has acquired Accenture Freight and Logistics Software (AFLS) that provides technology platforms to help airline and ocean transportation companies manage their freight operations. 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 Software’s 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 company’s cargo and logistics business and to broaden its global footprint.
“It is a synergistic opportunity to bring our decades of experience and expertise to the ocean cargo business, as well as strengthen our own capabilities to provide greater value to the air cargo customers,” he said.
IBS Software CEO, Anand Krishnan said cargo and logistics were vital to the global economy and an area ripe for growth and transformation.
“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 Software’s vision to establish itself as an end-to-end player in the global freight supply chain, it further said.
“AFLS has a strong heritage in ocean freight innovation with a suite of new generation platforms that enable ocean carriers to automate critical business functions and make data-led decisions for commercial operations. 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.
“The center will accelerate the company’s mission to transform how travel companies operate in a digital world by delivering next-generation products to accelerate growth, drive efficiency, and create differentiated customer experiences,” the release said.
Source: Economic Times