Thiruvananthapuram, May 19
Aviation software provider IBS Software has entered into a multi-million-dollar agreement with Massachusetts-based Kronos Inc. to acquire AD OPT, a market leader in aviation software providing crew management solutions to global airlines.
Kronos, a multinational workforce management software and services company employing nearly 6,000 professionals worldwide, had acquired the Montreal-based AD OPT in 2004.
The acquisition is an integral part of IBS’ growth strategy to become technology provider to the airline industry globally.
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The frontline crew planning and optimisation platform of AD OPT currently powers some of the top airlines in the world, including Air Canada, EasyJet, Emirates, FedEx, Garuda, Lion Air, and Qantas.
Prior to this, the company has made six strategic acquisitions — three in the US, two in Europe and one in India — in its 21-year history, a company spokesman said.
IBS is a specialist in aviation software, supporting flight operations of large airlines, including British Airways, KLM and Emirates.
Recently, IBS clinched three major agreements with leading airlines, including Etihad Airways, the national airline of the UAE, to transform its operational efficiency and improve guest satisfaction.
Korean Air migrated to IBS’ iCargo to power its cargo movement worldwide, while Santiago-based LATAM Airlines Group chose the company as its technology solution provider for unifying its entire fleet and crew operations worldwide on a digital platform.
The latest acquisition deal will help IBS to leverage AD OPT’s deep domain expertise to provide the most advanced, end-to-end, integrated digital solution for the highly complex task of flight and crew management.
The coming together of the assets, expertise and capabilities will bring to the market a holistic software for crew planning, pairing, rostering, optimising, tracking and managing entire operations of large and complex network carriers.
VK Mathews, Executive Chairman, IBS Group, said that acquisition of world-class travel technology companies has been a deliberate strategy of IBS to fulfill its commitment to the aviation industry.
AD OPT offers a sophisticated suite of airline crew planning and optimisation products, a sizeable customer base and a highly experienced team of professionals.
“The combine, therefore, is extremely relevant for the industry as it enables us to create the most advanced digital platform, delivering a holistic solution for flight operations and crew management. “We will continue to pursue our inorganic growth strategy to expand our solutions landscape and deliver outstanding value to our customers,” Mathews added.
The acquisition will add more than 20 airline customers to IBS, significantly expand its footprint in North America, boost go-to-market capabilities and enhance addressable market.
The move will also deepen the travel technology specialist’s managerial bandwidth by bringing into its fold AD OPT’s team of highly skilled domain experts.
Bob Hughes, Chief Customer and Strategy Officer, Kronos, said that IBS represents a well-established and logical acquirer of AD OPT.
This would be a game-changing combination which will bring meaningful expertise and complementary benefits to employees and customers of both organisations.
“Even though we plan to transition the AD OPT division to IBS, Kronos will continue to provide airlines with world-class solutions for workforce management and human capital management,” Hughes added.
Source: The Hindu