Left to right: Kurt Ekert, president and CEO of Sabre Corporation; Paul Hackwell, Partner at TPG; and Paul Hackwell, Partner at TPG [Photos: Sabre/LinkedIn]
Southlake-based travel tech giant Sabre (Nasdaq: SABR) and TPG, a leading private equity firm headquartered in Fort Worth and San Francisco, have inked a 10-figure deal that will impact hotels around the globe.
TPG (Nasdaq: TPG) is acquiring Sabre’s Hospitality Solutions business for $1.1 billion in cash, funding the deal via TPG Capital, the firm’s U.S. and European PE platform.
As a result, Hospitality Solutions will become a standalone business, providing dedicated resources for growth and continued expansion as the core technology platform for hotels around the world.
Hospitality Solutions currently provides software and solutions to more than 40% of the world’s leading hotel brands, Sabre noted. The SaaS-based platform serves as “an…
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