Hotel technology supplier IBS Software has reached an agreement to acquire hotel and travel technology provider Above Property Services for $90 million, the companies announced.
With the acquisition, IBS, which has a booking engine and distribution platform used by more than 36,000 hotels round the world, will “significantly expand” its offering by adding APS’ central reservation system, property management system and revenue management system technologies, according to IBS. Software expert Aaron Shepherd founded APS in 2012 with the idea of providing a unified platform in capturing bookings and providing services, which typically are done across different platforms with their own interfaces and pricing.
In joining IBS, APS will be able to give “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,” Shepherd said in a statement.
Shepherd and the entire APS team will be joining IBS as part of the deal, according to IBS head of travel and hospitality solutions Peter Krebs. The deal remains subject to customary closing conditions.
