MEMPHIS , Tenn., Feb. 2 /PRNewswire/ -- Inventory Locator Service,(R) LLC(ILS) today announced that it has acquired the assets of Internet Business Applications, Inc. (IBA), including the intellectual property of its inventory management software, Aerospace Repairable Management System (ARMS). ARMS provides tracking of the maintenance, repair and overhaul process and inventory management for aviation and defense industry distributors, suppliers and manufacturers. In addition, ILS will retain the services of IBAemployees.
"We are very excited by the capabilities and expertise that Internet Business Applications' technology and personnel will provide to ILS and our customers," said Bruce Langsen, president, ILS. "This acquisition should advance ILS's initiative of providing our customers with a complete end-to-end supply chain solution. This software is a perfect complement to our large and successful e-marketplace."
ILS offers the world's largest and most active e-marketplace for the aviation and defense industries. It also provides online tools such as electronic catalogs, auctions, and web hosting services for its customers. It was recently given its sixth consecutive "Best of Web" award by Forbes Magazine.
"This acquisition creates a winning situation for all the parties involved," said Miguel Foncerrada, president, IBA. "ILS has the perfect market for inventory management software. The system that IBA developed cannow grow and we expect it to evolve into a premier choice for the aerospace industry."
For more than 25 years, Inventory Locator Service,(R) LLC, a business unit of Aviall, Inc. (NYSE: AVL), has provided information via its global electronic marketplace to enable subscribers in the aviation, marine and defense industries to buy and sell parts, equipment and services. Started in 1979, ILS is the first, largest, and most active business-to-business electronic marketplace serving the aviation and marine industries.
ILS subscribers include more than 300 air carriers, 80 government procurement sites, and over 700 repair facilities as well as ship owners, ship operators, ship managers, manufacturers, distributors, and resellers from around the world. Aviation and marine suppliers list over 5 billion parts on ILS databases, which are accessed 50,000 times each business day. Today, ILS's services are used by 20,000 subscribers in 93 countries to buy and sell aircraft and marine parts and equipment.
Headquartered in Memphis, Tenn., ILS has offices in North America, Europe, and the Asia-Pacific region. For additional information about ILS, visithttp://www.ILSmart.com or call 1-901-794-5000.
The statements contained in this release that are not historical facts are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Actual results may differ materially from those expected in the forward-looking statements. These forward-looking statements involve risks and uncertainties, including among others, competitive factors, shifts in market demand, general economic conditions and developments in information and communications technology.
SOURCE Inventory Locator Service, LLC
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