Sabre Corporation has 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 $411 million.
Abacus serves more than 100,000 travel agents across the Asia Pacific region's 59 markets and has both global and uniquely local relationships with airlines and hotels, including the leading portfolio of low-cost airline content and Chinese airline content.
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 $70 million.