Sabre Corporation

Sabre Corporation
Public
Traded as NASDAQ: SABR
Industry Travel technology
Travel services
Founded 1960 (1960)
Headquarters Southlake, Texas, United States
Key people
 Tom Klein, CEO & President
Larry Kellner, Chairman
Rick Simonson, CFO
Products TripCase
GetThere
Sabre Airline Solutions
Sabre Travel Network
Sabre Hospitality Solutions
Revenue US$3.2 billion
Website www.sabre.com

Sabre Corporation is a travel technology company based in Southlake, Texas.[1][2][3] It is the largest Global Distribution Systems provider for air bookings in North America.[4] American Airlines founded the company in 1960, and it was spun off in 2000.[5] Texas Pacific Group and Silver Lake Partners acquired Sabre in 2007.[6][7] Sabre began publicly trading on the NASDAQ in 2014.[2]

Sabre Hospitality Solutions, an IT solutions provider, is the company's largest growing division.[7]

History

Early history

In 1953, C.R. Smith, the president of American Airlines, met Blair Smith, an IBM salesman, on a flight and developed the Sabre (the Semi-Automatic Business Research Environment) concept.[8][9] The system was based on SAGE, the first major system to use interactive real-time computing IBM developed for military use.[9] Sabre Corporation was founded in 1960 by American Airlines.[5][10] Sabre Corporation installed the first Sabre reservation system in Briarcliff Manor, New York that year.[8] The system consisted of two IBM 7090 mainframe computers and processed 84,000 calls per day.[8][9]

In 1964, Sabre's nationwide network was completed and became the largest commercial real-time data-processing system in the world.[9] Sabre Corporation handled 7500 passenger reservations per hour in 1965.[8] The Sabre system upgraded to IBM S/360 and moved to a new center in Tulsa, Oklahoma in 1972.[11] In 1976, the Sabre system was installed into a travel agency for the first time.[10] This allowed travel agents to have instant access to flights.[10] By the end of the year, 130 locations installed the Sabre system.[9] Sabre introduced BargainFinder, the industry's first automated low-fare search capability, in 1984.[12] The following year, easySabre was launched.[13] It gave consumers with personal computers access to the Sabre system to make airline, hotel and car rental reservations.[13]

In 1996, the company launched Travelocity, an online travel agency.[14] Sabre formed a joint venture with Abacus International in 1998 to create the SabreSonic passenger solution, a customized version of Sabre's reservations system to Abacus subscribers in Asia.[15]

2000s

AMR Corporation, the parent company of American Airlines, spun off its controlling stake in Sabre Corporation in 2000 to form an independent company.[16] The following year, Sabre began migrating its old mainframe for air travel shopping and pricing to HP NonStop and Linux servers.[17] In 2005, the company acquired lastminute.com, an online travel and leisure retailer.[18]

Texas Pacific Group and Silver Lake Partners acquired Sabre Corporation in March 2007.[6][19][20] In March 2010, the company acquired Calidris, a revenue integrity and business intelligence solutions company.[21] Sabre Corporation acquired SoftHotel, a web-based property management solutions provider, in June 2011.[22] The company launched Sabre Red App Centre in March 2012.[7] In April 2014, Sabre Corporation went public on NASDAQ under the ticker symbol SABR.[2][4] The IPO sold for $16 per share and valued Sabre at $3.93 billion.[23][24] The company acquired Genares, a hospitality technology company, that September.[25]

In December 2014, Bravofly Rumbo Group acquired Sabre European Online Travel Agency, lastminute.com.

In January 2015, Sabre sold its Travelocity brand to Expedia, Inc. for $280 million.[26][27][28] In July 2015, Sabre acquired Abacus International, a global distribution system based in the Asia-Pacific region. The deal included long-term distribution agreements between Sabre and the 11 Asian airlines that previously shared ownership of Abacus.[29]

In June 2016, Sabre announced Tom Klein would be resigning as CEO by the end of 2016.[30]

Operations

The company is based in Southlake, Texas and has additional offices in London, Kraków, Bangalore, Montevideo and Buenos Aires.[5][31] In December 2013, the company handled approximately 85000 data transactions every second for customers according to the Fort Worth Star-Telegram.[32] At the time, the company did business with 70 airlines and 100,000 hotels.[32] It operates under the platforms Travel Network, Airline and Hospitality Solutions.

Businesses

Acquisitions

References

  1. ↑ Chris Ciaccia (17 April 2014). "Travelocity Owner Sabre Holdings Returns to Wall Street After IPO". Retrieved 18 November 2014.
  2. 1 2 3 Lance Murray (4 April 2014). "Sabre Holdings sets IPO valuation at up to $4.1B". Retrieved 18 November 2014.
  3. ↑ David Baum (December 2014). "Flying High with a Private Database Cloud". Retrieved 18 November 2014.
  4. 1 2 "Travelocity owner Sabre's IPO prices at $16 per share -underwriter". 16 April 2014. Retrieved 18 November 2014.
  5. 1 2 3 "American Airlines Assails Sabre in Data-Business Trial". 25 October 2012. Retrieved 18 November 2014.
  6. 1 2 "TPG and Silver Lake take Sabre private". 9 April 2007. Retrieved 18 November 2014.
  7. 1 2 3 "Sabre Holdings switches CEOs, appointing Tom Klein". 15 August 2013. Retrieved 18 November 2014.
  8. 1 2 3 4 "Forget the Booze. The Mad Men's Best Friend Was SABRE". 27 July 2012. Retrieved 18 November 2014.
  9. 1 2 3 4 5 "Sidebar: Sabre Timeline". Retrieved 18 November 2014.
  10. 1 2 3 "Sabre Makes the Wrong Choice By Removing American Airlines". 7 January 2011. Retrieved 18 November 2014.
  11. ↑ McKenney, James L. (1 January 1995). Waves of Change: Business Evolution Through Information Technology.
  12. ↑ "American Airlines Reveals Limits Of World-Class IT". 26 January 2012. Retrieved 18 November 2014.
  13. 1 2 Vervest, Peter; Dunn, Al (2000). How to Win Customers in the Digital World: Total Action Or Fatal Inaction.
  14. ↑ Johanna Jainchill (4 June 2012). "Travelocity fights to regain market share". Retrieved 18 November 2014.
  15. ↑ Isae Wada (4 March 1998). "Sabre Finalized Abacus Pact". Retrieved 18 November 2014.
  16. ↑ "AMR Climbs on Sabre Spinoff". 14 December 1999. Retrieved 18 November 2014.
  17. ↑ Gary Anthes (31 May 2004). "Sabre Flies to Open Systems". Retrieved 18 November 2014.
  18. 1 2 "Sabre Holdings Completes Acquisition of lastminute.com". 20 July 2005. Retrieved 18 November 2014.
  19. ↑ "Equity Firms in Talks to Buy Sabre Holdings". 11 December 2006. Retrieved 18 November 2014.
  20. ↑ "Silver Lake, Texas Pacific To Buy Sabre Holdings". 12 December 2006. Retrieved 18 November 2014.
  21. ↑ "Sabre Acquires Calidris". 31 March 2010. Retrieved 18 November 2014.
  22. ↑ "Sabre Holdings Acquires SoftHotel". 30 June 2011. Retrieved 18 November 2014.
  23. ↑ Samantha Nielson (25 September 2014). "Maverick Capital establishes position in Sabre Corporation". Retrieved 18 November 2014.
  24. ↑ "Travelocity owner Sabre takes flight on $627M IPO". 17 April 2014. Retrieved 18 November 2014.
  25. ↑ "Sabre acquires global hospitality technology company". 21 September 2014. Retrieved 18 November 2014.
  26. ↑ Expedia Inc acquires Travelocity in $280 million deal. Reuters, 26 January 2015
  27. ↑ Robinson-Jacobs, Karen (23 January 2015). "Sabre sells Travelocity to Expedia for $280 million". Dallas Morning News. Retrieved 27 January 2015.
  28. ↑ "Expedia Buys Booking Site Travelocity for $280M in Cash". ABC News. 23 January 2015. Retrieved 27 January 2015.
  29. ↑ Rudnansky, Ryan (1 July 2015). "Sabre Acquires Abacus International for $411M". Travel Pulse. Retrieved 26 August 2015.
  30. ↑ "Sabre Corporation Announces CEO Transition (NASDAQ:SABR)". investors.sabre.com. Retrieved 2016-06-20.
  31. ↑ "Sabre Corporation". Retrieved 18 November 2014.
  32. 1 2 "Think of Sabre Holdings as a data company, CEO says". 5 December 2013. Retrieved 18 November 2014.
  33. ↑ "Sabre acquires stake in German CRS". 11 July 2000. Retrieved 18 November 2014.
  34. ↑ "E-Business: Sabre acquires Dublin-based Gradient Solutions". 17 August 2000. Retrieved 18 November 2014.
  35. ↑ "Sabre buys GetThere for $757 million, announces layoffs". 29 August 2000. Retrieved 18 November 2014.
  36. ↑ http://www.travelweekly.com/Travel-News/Travel-Agent-Issues/Nexion-adds-60-member-host-agency-to-network/
  37. ↑ "Sabre Acquires Software Developer". Retrieved 18 November 2014.
  38. ↑ "Travelocity.com Buys Site59 for $43 Million". 26 March 2002. Retrieved 18 November 2014.
  39. ↑ "Resfeber switches to Sabre Travel Network, citing customer service and technology". Retrieved 18 November 2014.
  40. ↑ "Sabre buys Kiehl Hendrickson Group". 4 November 2002. Retrieved 18 November 2014.
  41. ↑ "Sabre Acquires EDS Axresource Product Line". Retrieved 18 November 2014.
  42. ↑ "Travelocity to Acquire World Choice Travel Assets". 22 October 2013. Retrieved 18 November 2014.
  43. ↑ "Sabre Airline Solutions Expands International Presence". 16 August 2004. Retrieved 18 November 2014.
  44. ↑ "Travelocity Acquires Allstate Ticketing And Its Showtickets.com Website". 31 August 2004. Retrieved 18 November 2014.
  45. ↑ "SynXis to Be Bought for $40 Million". 10 December 2004. Retrieved 18 November 2014.
  46. ↑ "Nexion adds 60-member host agency to network". 19 January 2005. Retrieved 18 November 2014.
  47. ↑ "Acquisition Gives Sabre Access To Online Search Revenue". 6 April 2005. Retrieved 18 November 2014.
  48. ↑ "Travelocity buys Lastminute.com for £577m". 12 May 2005. Retrieved 18 November 2014.
  49. ↑ "(BW) Sabre Holdings Acquires E-site Marketing to Build on Comprehensive Hospitality Offerings". 5 June 2007. Retrieved 18 November 2014.
  50. ↑ "Sabre acquires Flight Explorer". Retrieved 18 November 2014.
  51. ↑ "Sabre acquires EB2". 19 December 2008. Retrieved 18 November 2014.
  52. ↑ "Calidris to become part of Sabre Airline Solutions". 31 March 2010. Retrieved 18 November 2014.
  53. ↑ "Sabre Holdings buys Flightline Data Services". 8 July 2010. Retrieved 18 November 2014.
  54. ↑ "Sabre buys flight planning technology provider f:wz". Retrieved 18 November 2014.
  55. ↑ "Sabre Holdings acquires SoftHotel". 29 June 2011. Retrieved 18 November 2014.
  56. ↑ "Sabre buys airline information service Prism, probably the big acquisition disclosed in secret docs". Retrieved 18 November 2014.
  57. ↑ "Sabre Acquires Hotel-Tech Provider Genares as Competition Heats Up". 12 September 2014. Retrieved 18 November 2014.
  58. ↑ "Sabre acquires Trust International for $154 million". Tnooz. Retrieved 2015-11-25.
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