Singapore-headquartered IBS Group, which operates in the global travel industry, will opt for share listing at the right time, according to Executive Chairman V K Mathews. As reported by PTI, Mathews emphasized that the group was initially targeting the US market but found the India market looked promising, though it is not currently performing well. The company has the option of using IBS Software as a holding company for the listing.
Last week, IBS Group launched Naviq Technology, a new artificial intelligence company focused on the global travel industry. According to PTI reports, the group will invest $500 million in the AI firm over the next five years. Mathews described the company as uniquely positioned, with customers charged based on outcomes rather than traditional pricing models. The measurement system will be based on parameters such as the number of passengers boarded, revenue passenger kilometres, or the number of loyalty programme members.
IBS Software, the flagship company of IBS Group, is a leading SaaS player in the global travel industry spanning aviation, hospitality, tour and cruise, and logistics segments. As reported by PTI, the company has significant manpower in India, particularly in Kerala. Meanwhile, Naviq Technology will initially hire 2,000 people and is purpose-built for the global travel industry using artificial intelligence technology.
In 2023, UK-based Apax Partners LLP invested $450 million for a minority stake in IBS Software. According to PTI reports, Mathews highlighted the importance of domain expertise and emphasized that artificial intelligence provides a huge opportunity for the travel industry. The group's strategy focuses on leveraging AI capabilities while maintaining its strong position in the travel technology sector.
