Sabre (SABR, Financials) surged 15.5% to $2.53 as of market close Monday, April 29, after agreeing to sell its Hospitality Solutions business to TPG (TPG, Financials) for $1.1 billion in cash.
Sabre expects about $960 million in net proceeds, which it plans to use primarily to reduce debt and strengthen its balance sheet.
The divestiture will establish Hospitality Solutions as a standalone provider of software for the global hotel industry, serving more than 40% of major hotel brands.
Sabre said the sale aligns with its strategic focus on airline IT and travel marketplace platforms. CEO Kurt Ekert said the transaction reflects the transformation driven by the Hospitality Solutions team in recent years.
TPG is making the investment through its U.S. and European private equity arm. The firm cited strong growth prospects and its track record in scaling enterprise software businesses.
The deal supports Sabre's ongoing efforts to simplify its portfolio, reduce leverage, and invest in higher-growth operations. The company has also refinanced debt and repaid April 2025 maturities.
Sabre expects to close the transaction by the end of the third quarter, subject to regulatory approvals and customary closing conditions.
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