Sabre finalises Abacus acquisition

SOUTHLAKE, Texas  Sabre Corporation announced, Wednesday that it has completed the acquisition of Abacus International, a leading global distribution system (GDS) in the Asia-Pacific region.
“The addition of Abacus further strengthens Sabre’s position in the fast-growing Asia-Pacific region,” said Sabre president & CEO Tom Klein. “Our ability to combine Sabre’s strong global technology platform capabilities with Abacus’ deep local market expertise will provide Asia-Pacific airline, hospitality and travel agency customers with unprecedented innovation and service options. It also makes us an ideal technology partner for global customers seeking to grow and expand in Asia-Pacific.”
Abacus serves more than 100,000 travel agents across the Asia-Pacific region’s 59 markets and has both global and local relationships with airlines and hotels, including the leading portfolio of low-cost airline content and Chinese airline content.
inside no 6Sabre, which previously owned 35% of Abacus, acquired the remaining portion for a net cash consideration of USD411 million.
Separately, the acquisition includes new long-term distribution agreements between Sabre and the 11 Asian airlines that previously shared ownership of Abacus with Sabre.
The acquisition, including associated working capital adjustments and cash acquired, was financed through cash on hand, augmented by revolver borrowings of USD70 million.
Sabre has also signed an agreement to acquire Abacus national marketing company, Abacus Distribution Systems (Hong Kong).
inside no 6.1Sabre management will update financial guidance as it relates to the Abacus acquisition during the company’s next earnings conference call, which is scheduled for 4 August.
Sabre Corporation is a leading technology provider to the global travel and tourism industry. Its software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotels to manage vital operations, such as passenger and guest reservations, revenue management, and flight, network and crew management.
Sabre processes more than USD110 billion of annual travel spend. Headquartered in Southlake, Texas, US, Sabre operates in approximately 60 countries worldwide.

sourced:traveldailynews.asia