Sabre Announces Intent to Close Farelogix Acquisition
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
"We are incredibly excited to close our acquisition of Farelogix so that airlines, travel agents, corporations, and travelers can benefit from the end-to-end next-generation retailing solutions we will be able to deliver. This deal will allow us to provide our airline and agency customers with more and better choices, all while we continue to offer and invest in Farelogix's current suite of products and services," said
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 dynamic, highly competitive airline technology space, helping airlines accelerate their growth and profitability while better serving travelers. Sabre believes the transaction will bring needed scale and investment to Farelogix and enable Sabre to accelerate the delivery of the industry's first end-to-end NDC-enabled solution for the retailing, distribution and fulfillment of travel.
Sabre has committed to its airline customers and to the DOJ that after the transaction it will continue to offer Farelogix products at the same prices available today or lower, and to support and invest in those products at the same level or higher. In addition, Sabre has committed to offer to extend any existing Sabre GDS or Farelogix contract on the same terms, including price, for a period of at least three years.
While Sabre and Farelogix do not believe that litigation is appropriate in this matter, they have extended the termination date of their acquisition agreement to
Certain statements in this release are forward-looking statements about trends, future events, uncertainties and our plans and expectations of what may happen in the future. Any statements that are not historical or current facts are forward-looking statements. In many cases, you can identify forward-looking statements by terms such as "will," "enable," "plan," "confident," "expect," "believe," "anticipate," "may," "should," "would," "intend," "potential" or the negative of these terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Sabre's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. The potential risks and uncertainties include, among others, the outcome and effects of any litigation or regulatory reviews regarding the acquisition described in this release, and, if successfully completed, closing, integration and effects of the acquisition described in this release, the financial performance of the company expected to be acquired, dependency on transaction volumes in the global travel industry, particularly air travel transaction volumes, including from airlines' insolvency, suspension of service or aircraft groundings, travel suppliers' usage of alternative distribution models, exposure to pricing pressure in the Travel Network business, changes affecting travel supplier customers, maintenance of the integrity of our systems and infrastructure and the effect of any security breaches, failure to adapt to technological advancements, competition in the travel distribution market and solutions markets, implementation of software solutions, reliance on third parties to provide information technology services, the implementation and effects of new or renewed agreements, dependence on establishing, maintaining and renewing contracts with customers and other counterparties and collecting amounts due to us under these agreements, dependence on relationships with travel buyers, our collection, processing, storage, use and transmission of personal data and risks associated with PCI compliance, our ability to recruit, train and retain employees, including our key executive officers and technical employees, the effects of litigation and regulatory investigations, adverse global and regional economic and political conditions, including, but not limited to, economic conditions in countries or regions with traditionally high levels of exports to
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