IBS to commence operations in Kochi

Trivandrum – January, 2005 – IBS Software Services (IBS) announced plans to commence operations of its second development centre at Infopark, Kochi. This is keeping in line with IBS' plans to further strengthen its position as a leading global IT company in the TTL (Travel, Transportation and Logistics) industry. Apart from the development centre in Trivandrum, IBS' group companies operate out of Atlanta, London, Zurich, Dubai and Sydney.

In Kochi, IBS will operate out of Thapasya, a building with state-of-the-art facilities. The development centre is fully built, and the operation will commence early February, with around 100 employees. IBS currently employs 450 employees in Trivandrum and has embarked on a major recruitment drive for both its development centres. According to Mr V K Mathews, Chairman & Managing Director, IBS Software Services, "in the next three years IBS intends to recruit over 1,000 software engineers, with various experience levels. This will help ramp up operations to actualise our growth targets'.

The IBS Group with its successful global delivery model has made significant progress in the TTL domain. Contracts worth US$23 million (Rs.103 crores) in 2004 (calendar year-Jan-Dec) is a testimony of IBS' success and its growth plans got a fillip when it forged a partnership with Cendant Corporation in March last year. Cendant is primarily a provider of travel and hospitality services to businesses and consumers in more than 100 countries with revenues exceeding US$ 18 billion.

The Kochi development centre would thus cater to IBS' growing need for excellent human resources to take IBS into the next phase of its growth. We plan to attract talent from South India and also across Kerala. Kochi, the commercial hub of Kerala, is a favoured destination for many, since it offers all the attractions a metro city like Bangalore or Chennai provide. Moreover, Kochi is centrally located in Kerala, and therefore features in the destination list of homeward-bound software professionals currently employed in cities like Hyderabad, Chennai and Bangalore and a recognition to the vast pool of talented pool of resources that would.

Infopark, a Kerala Government undertaking, is one of the best connected, yet the most economical IT park in the country. IBS chose Infopark over other IT parks in the region because of its standard/level of connectivity, uninterrupted power supply, rental advantages and proximity to an international airport. Moreover, this gives IBS the opportunity to contribute to the government's initiatives for IT development.

About IBS Software Services

The IBS Group (IBS) is a leading IT solutions provider to the global Travel, Transportation and Logistics (TTL) industry. A specialist in the domain, IBS is SEI CMM Level-5 assessed, ISO 9001:2000 and TickIT certified, and operates a large offshore software production and competence development centre in India. With some of the world's leading corporations as clients, IBS has business operations in USA, Europe, Asia Pacific, and the Middle East. The services offered by IBS include software development, technical and business consulting, product development, turnkey solutions, customer support services, application maintenance, and business process outsourcing.

More information about IBS can be found on the web at http://www.ibsplc.com.

Media Contact:
Pradeep P. Suthan
Head-Corporate Communications
Tel: +91-471-2700080
email:pradeeps@ibsplc.com