Sabre Corp buying Asia GDS Abacus
Sabre Corporation has confirmed its intention to acquire Asia based GDS Abacus International.
Abacus is currently owned by a consortium of 11 Asia Pacific airlines and Sabre itself which has a 35% stake.
Sabre said it will buy the outstanding 65% in Abacus for $411 million in cash.
The purchase includes the long-term distribution agreements of the 11 airline owners of Abacus.
Abacus provides services to more than 100,000 travel agents across the Asia Pacific region.
"We look forward to continuing our long-term business relationships with our former partners in Abacus, and our new agreements will provide benefits and confidence to travel agents throughout the Asia-Pacific region for many years to come," said Greg Webb, President of Sabre Travel Network.
"Abacus currently provides a broad set of services to its customers using a base of Sabre technology. That, along with deep local market capabilities, will result in a smooth transition for Asia-Pacific customers, who should see the benefits of global capabilities."
Following regulatory approvals, the deal is expected to close in the third quarter of 2015.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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