SAS Expands Software Solutions With Acquisition
SAS has acquired IDeaS Revenue Optimization, a provider of advanced revenue-management software for the hospitality industry based in Minneapolis.
With its existing portfolio of industry-specific solutions, SAS now has the leading revenue-management offering designed specifically for the travel and hospitality industries, the company said in a news release in early August. IDeaS customers will benefit from the global resources of SAS, a $2 billion company.
“IDeaS is extremely successful in the hospitality industry, and its highly regarded application base is capable of much more,” said Jim Goodnight, SAS chief executive officer. ”SAS will build on that for other industries while remaining attentive to the extremely loyal IDeaS customer base. SAS has the will, the resources and the domain expertise to nurture the potential of IDeaS.”
IDeaS CEO said SAS is a perfect fit. “We have sought for some time to expand our scope beyond hospitality applications and SAS, with a corporate culture remarkably similar to ours, will provide IDeaS with the resources to stretch its wings,” Booth said.
SAS gains a robust application portfolio and technology foundation for extending IDeaS price and revenue to other industries. SAS solutions will leverage these revenue- and price-optimization capabilities to help organizations gain deeper insights into their customers and operations to maximize profitability.
IDeaS, with 200 employees, is now a wholly owned subsidiary of SAS but will continue operating under its current management. Its global customers include Hilton, Hyatt International, Mandarin Oriental, Intercontinental Hotels Group, The Venetian Hotel and Casino, Stations Casinos, Lindner Hotels, Fairmont Hotels, Manchester Airport Group and BAA.
Both SAS and IDeaS are privately held, so financial terms were not available.