Nov. 25--SOUTHLAKE -- Sabre Corp., a technology provider to the travel industry worldwide, said it has entered into an agreement to buy the Trust Group of Cos., a central reservations, revenue management and hotel marketing firm.
Southlake-based Sabre said Tuesday it is paying $154 million to acquire the company from Battery Ventures, a Boston-based private equity firm.
The Trust Group of Cos. includes Trust International, InnLink and Nexus World Services. The company has a strong presence in Europe, the Middle East, Africa and Asia Pacific, according to Sabre.
Sabre said acquiring the Trust Group will boost its position as the world's largest central reservations system provider to hotels, among other things.
"Acquiring the Trust Group is consistent with our stated goal of building on Sabre Hospitality Solutions' global leadership position, and this combination will enable us to grow faster," Tom Klein, Sabre's president and CEO, said in a statement. "The Trust Group is one of the industry's most respected brands, and our customers will benefit from our combined expertise and focus on innovation."
The deal, pending regulatory review, should to close in the first quarter of 2016. Sabre said the acquisition is expected to contribute about $40 million of revenue in 2016.
Sabre, (ticker: SABR) serves customers in more than 160 countries, including airlines and hotels properties.
Sandra Baker: 817-390-7727, @SandraBakerFWST
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