Sabre Corporation, a Texas-based provider of software, data, mobile and distribution solutions to the global travel industry, has acquired the Trust Group of Companies, a central reservations, revenue management and hotel marketing provider, for approximately $154 million.
Sabre will acquire the Trust Group, a central reservation, revenue management and hotel marketing company with a significant presence in EMEA and Asia Pacific region, from global investment firm Battery Ventures.
The deal will include Trust International, a CRS provider and international hospitality partner offering distribution solutions to hotel chains and hospitality; InnLink, a provider of reservation technology and services for individual hotels; and Nexus World Services, a global provider of RFP management tools and sales force automation.
The acquisition will allow Sabre to provide a more comprehensive SaaS platform, while extending its position as a large central reservations system provider to hotels. Sabre will now serve more hotels than any other central reservations technology provider in the market.
Tom Klein, President and CEO of Sabre, said in a statement: "Acquiring the Trust Group is consistent with our stated goal of building on Sabre Hospitality Solutions' global leadership position, and this combination will enable us to grow faster”, "The Trust Group is one of the industry's most respected brands, and our customers will benefit from our combined expertise and focus on innovation."
Alex Alt, President of Sabre hospitality Solutions, said in a statement: "The technology needs of the hospitality industry are evolving at a rapid pace. Hoteliers want a global technology provider that anticipates their needs and delivers broad, integrated solutions, including data and analytics, retailing and guest engagement”, and added that: "By bringing together Sabre and the Trust Group, we will immediately expand our capabilities and increase the pace of innovation we deliver to the industry. We look forward to welcoming the talented Trust team to Sabre and our journey to deliver unprecedented value to our customers."
Established in 1960, Sabre Corporation is a leading technology provider to the global travel industry and the largest Global Distribution System provider for air bookings in North America. The company’s software solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, which include passenger and guest reservation, revenue management, flight network and crew management.
In addition to its software solutions, Sabre also operates a leading global travel marketplace that processes more than $120 billion of estimated travel spend annually by connecting buyers and suppliers. American Airlines started the company in 1960 and was spun off in 2000. In 2007, Sabre was acquired by Texas pacific Group and Silver Lake Partners, and in 2014 it started to trade on NASDAQ. Sabre is based in Southlake, Texas and has offices in Boston, Krakow, Bangalore, Montevideo and Buenos Aires, Argentina.
The deal, which is subject to customary closing conditions and regulatory approvals, is expected to close in early 2016. Until closing, Sabre Corporation and Trust Group of Companies will continue to operate as separate companies
The purchase of Trust Group is expected to contribute approximately $40 million of incremental revenue to Sabre in 2016.
Image credit: Sabre
Tuesday, December 1, 2015
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