Company grows revenue-management offering designed for travel and hospitality industries by acquiring IDeaS
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
Both SAS and IDeaS are privately held,
so financial terms were not available.
SAS Expands Software Solutions With Acquisition
August 7, 2008