Texas-based technology provider to the travel industry Sabre Corporation (NASDAQ: SABR) has announced it has informed the US Department of Justice (DOJ) of its intent to close it acquisition of Farelogix on August 21, 2019, the company said.
US Department of Justice (DOJ) has been performing a lengthy and exhaustive review of the transaction.
Under the terms of its timing agreement with Sabre, if the DOJ decides to seek to block the transaction prior to the expected closing date, it must file its complaint in federal court before August 21. Sabre is confident in the legal and competitive merits of the acquisition and that the transaction will ultimately be completed.
Since announcing the proposed transaction last November, Sabre has been working closely with the DOJ to demonstrate to them the unquestionable value of the transaction to its airline and agency customers, consumers, and the travel ecosystem. As a combined company, Sabre and Farelogix will drive faster innovation in the airline technology space, helping airlines accelerate their growth and profitability while better serving travelers.
In the UK, the transaction is being reviewed by the UK Competition and Markets Authority (CMA). The CMA has issued an Initial Enforcement Order (IEO), which is a standard procedural step that allows Sabre and Farelogix to close the transaction while preserving the CMA´s ability to conclude its review of the deal before the companies are integrated.
Sabre Corporation´s software, data, mobile and distribution solutions are used by airlines and hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Sabre also operates a leading global travel marketplace, which processes more than USD 120 billion of estimated travel spend annually by connecting travel buyers and suppliers.