Trivandrum (India), May 24: As a first step towards actualising its plan to ramp up its development operations, IBS Software Services, headquartered in Trivandrum, has acquired 5 acres of land in the Technopark campus, at Kazhakootam. IBS signed the deed with the Technopark officials on 23rd May 2005.

Announcing the acquisition, VK Mathews, CMD – IBS Software Services said, “We have now reached a stage where we should look for our own office complex which will help us to be together and address our growth requirements. We will be building a state-of-the-art facility, which can accommodate, when fully built, up to 2,000 staff.”

The company has acquired a prime location close to the Technopark main gate, and plans to build a fully equipped, self-sufficient multi-storied building complex, in order to house its rapidly expanding software development facilities. Currently IBS Trivandrum operates out of the Nila and Chandragiri buildings at Technopark.

Since its inception in 1997, IBS has recorded consistent growth in turnover as well as employee strength. IBS has recently commenced operations from its second development centre at Infopark, Kochi. For IBS, the next few years are crucial in terms of growth, with an IPO tentatively scheduled for October 2006. The decision to build its own software development complex re-affirms IBS’ bonding with Technopark as well as with Trivandrum. The state Government’s progressive IT policies, best-in-class infrastructure and availability of talent locally have gone a long way in encouraging IBS to make Technopark, Trivandrum, the hub of its global operations.