The acquisition will strengthen IBS Software’s position providing technology to the airfreight industry by bringing together complementary solutions and a shared vision for innovating and transforming the industry.
It is a strategic step in IBS establishing itself as an end-to-end player in the global freight supply chain with the transaction helping IBS to deploy its cargo and logistics management expertise in the ocean transportation sector.
To support the expansion, IBS will open a new development centre in Chennai, its fourth in India, for travel, transportation and logistics.
VK Mathews, Executive Chairman of IBS Software, says, “The acquisition of AFLS is a strategically important milestone for our cargo and logistics business to broaden its global footprint, with ocean transportation being a natural adjacent industry in which to expand our expertise. 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.”
Anand Krishnan, CEO of IBS Software, adds, “Cargo and logistics are vital to the global economy. It’s an area ripe for growth and hungry for 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.”