Sabre Corp. (Nasdaq: SABR) is buying the rest of Abacus International, a travel service, for $411 million.
Abacus, headquartered in Singapore, provides travel information to agencies. The company is owned by a consortium of Asian airlines: All Nippon Airways, Cathay Pacific, China Airline, EVA Airways, Garuda Indonesia, Dragonair, Philippine Airlines, Malaysia Airlines, Royal Brunei Airlines, SilkAir and Singapore Airlines.
The target serves more than 100,000 travel agents across the Asia-Pacific region.
The Southlake, Texas-based buyer currently owns 35 percent of the business, and will buy the rest for the airline group.
Abacus will operate as a region of Sabre’s travel network. Sabre provides technology to the tourism industry.
"The Asia-Pacific travel market is the largest and fastest growing in the world," says Tom Klein, Sabre CEO. “Acquiring Abacus immediately combines the global capabilities of Sabre with the deep local market expertise.”
The deal follows several other travel related deals, including the merger of Lindblad Expeditions Inc. with Capitol Acquisitions Corp. II, and Carlyle Group’s (Nasdaq: CG) deal for PrimeSport, a sports ticketing and travel service. Thoma Bravo’s purchase of travel-tech business TravelClick in 2014 won the firm Mergers & Acquisitions M&A Mid-Market Deal of the Year award.