India Markets closed

IBS Software Services buys India-based Moveo Systems

Chennai: Information technology products and services provider IBS Software Services has bought India-based Moveo Systems Pvt Ltd, Executive Chairman of IBS Group V K Mathews said Tuesday.

'With this integration, we have significantly augmented our capabilities to offer cutting edge solutions that help our customers transform their businesses," he said in a release.

The financial details of the acquisition were, however, not disclosed.

"Our Airport Information Portal has set a new global benchmark for digital interactivity in airports and the merger with IBS will enable Moveo to hyper-accelerate the reach of such solutions to customers across the globe," Sankalp Saxena, Managing Director of Moveo Systems said.

After the acquisition, Saxena will now head aviation operations services in IBS which includes airline, airport and cargo operations.

Founded in 2006, Moveo Systems was a privately held firm developing innovative next generation human interaction solutions for airports and enterprises, the release said.

IBS Software offers IT services in all business areas of aviation -- passenger reservation, airline and airport operations, aircraft maintenance, engineering and cargo management.