IBS Acquires Spain-based GTM
By Jim Martin
Continuing to add to its wholesale distribution software product suite for the AS/400, IBS (Folsom, Calif.) recently acquired 75 percent of the shares in GTM, a Spanish software company located in Barcelona. GTM specializes in logistics and supply chain management and its customers include companies such as ABB, Nissan and Legrand.
“We regard the acquisition as an important step in our expansion,” says Staffan Ahalberg, CEO of IBS. “Spain is, like Portugal, one of the fastest growing IT markets in Europe. With our specialization in systems for Internet-based customer service and supply chain management, we are in a very favorable position for continued rapid growth.”
IBS operations in Spain commenced in early 1999 and with the acquisition of GTM, IBS will now have employees in Madrid and Barcelona.
According to IBS, logistics and supply chain management are showing considerable growth within the Spanish market and the acquisition is part of IBS’ plans to become one of the leading players in the region.
The present GTM management will keep the remaining 25 percent of the shares in the company.