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Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, today announced the successful closing of the previously-announced agreement to sell its AirCentre airline operations portfolio to CAE, a technology leader in digital flight and crew operations.
The transaction, valued at $392.5 million, includes the Sabre AirCentre product portfolio, related technology and intellectual property as well as the transfer of AirCentre’s highly talented team members from Sabre to CAE.
The divestiture of AirCentre supports Sabre’s effort to streamline its product portfolio in order to focus more intently on its ongoing technology transformation as well as plans to identify and maximize new revenue opportunities for the Company and its customers.
“Today’s announcement marks an important milestone for Sabre as we take bold steps toward achieving our vision to be held as the premier global technology platform in travel,” said Sean Menke, Sabre CEO. “With the close of this transaction, Sabre is better positioned for the future and ready to deliver on the incremental revenue and growth opportunities that are before us.”
For more information about these airline operation products, visit the CAE website.