In an attempt to step up its efforts to become a major technology provider in the global aviation industry, Technopark-headquartered IBS Software has entered into a multi-million-dollar agreement with Massachusetts-based Kronos Incorporated to acquire AD OPT.
AD OPT, founded in 1987 in Montreal by a group of mathematicians and operations research experts, was acquired in 2004 by Kronos, a multinational workforce management software and services company employing nearly 6,000 professionals worldwide.
Currently, the IBS staff strength is above 3,000 and are specialists in aviation software, supporting flight operations of large airlines, including British Airways, KLM and Emirates.
AD OPT is a market leader in aviation software that provides crew management solutions to some of the biggest airlines across the world.
The frontline crew planning and optimization 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.
The acquisition is an integral part of IBS' growth strategy to become the leading technology provider to the airline industry worldwide.
Prior to this, IBS has made six strategic acquisitions -- three in USA, two in Europe and one in India -- in its 21-year history.
V.K. Ma0thews, Executive Chairman, IBS Group said acquisition of world-class travel technology companies has been a deliberate strategy of IBS to fulfil its commitment to the aviation industry.
"AD OPT offers a sophisticated suite of airline crew planning and optimization products, a sizeable customer base and a highly experienced team of professionals. The coming together of IBS and AD OPT is, therefore, 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," said Mathews.
The acquisition of AD OPT will add more than 20 airline customers to IBS.
"IBS represents a well-established and logical acquirer of AD OPT - a game-changing combination which will bring meaningful expertise and complementary benefits to employees and customers of both organizations," said Bob Hughes, Chief Customer and Strategy Officer, Kronos.
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