parent company Sabre to go public

Posted Apr 6, 2014

Sabre Corporation, the parent company of Travelocity, is known for offering travel data and reservation software. Sabre is looking to raise as much as $895 million in an initial public offering (IPO). Sabre is backed by TPG Capital and Silver Lake Management.

The company is planning to offer 44.7 million shares at between $18 and $20 per share, according to regulatory filings. Sabre will be using the funding from the IPO to repay debt. Sabre’s technology processes over $100 billion of estimated travel spending every year. Some of their customers include cruise lines, hotel companies, and tour vendors.

Sabre used to be owned by AMR Corporation and it was traded on the New York Stock Exchange from 1996 until around 10 years later. TPG and Silver Lake took the company private for around $5 billion, including debt.

Sabre’s revenue increased slightly to $3 billion in 2013 compared to a year earlier. Morgan Stanley, Goldman Sachs Group Inc., Bank of America Corp., and Deutsche Bank AG are handling the offering.