Sabre completes acquisition of Abacus International

Sabre Corporation announced (01-Jul-2015) it completed the acquisition of Abacus International, the leading global distribution system (GDS) in the Asia-Pacific region.

• Sabre, which previously owned 35% of Abacus, acquired the remaining portion for 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 agreements to acquire two Abacus national marketing companies, Abacus Distribution Systems (Hong Kong) and Abacus Travel Systems (Singapore);
• Sabre management will update financial guidance as it relates to the Abacus acquisition during the company's next earnings conference call on 04-Aug-2015. [more - original PR]

Sabre: "The addition of Abacus further strengthens Sabre's leading position in the fast-growing Asia-Pacific region. 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," Tom Klein, President & CEO. Source: Sabre, 01-Jul-2015.