Alston & Bird client Sabre Corporation, a leading technology provider to the global travel and tourism industry, has entered into a definitive agreement to acquire Abacus International Pte Ltd., the premiere travel-booking company in Asia-Pacific.
Sabre already holds a 35 percent stake in Abacus, which is jointly owned by a consortium of 11 Asian airlines, and will purchase the remaining portion for net cash consideration of $411 million.
Separately, the acquisition also includes new long-term distribution agreements between Sabre and the divesting airlines.
The deal positions Sabre to take advantage of the largest and fastest growing travel market in the world and to accelerate its global growth.
Based in Texas, Sabre operates in approximately 60 countries. In 2013, Sabre’s technology processed over $100 billion of estimated travel spend and more than 1.1 trillion system messages.
Advising Sabre on the acquisition and the airline agreements is an Alston & Bird team led by partner Darren Hauck, with support from partners Justin Howard, Gustav Bahn, Paul Nozick, Aaron Dixon and Kyle Healy; senior associates Scott Kitchens, Charles Yates and Victoria Kulik; associate Jeff Bingham (Corporate & Finance); and partner Sam Kaywood and senior associate Brian Harvel (Tax).