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Sabre Holdings and Amadeus, leading providers in global travel distribution and technology, have filed with the European Commission for antitrust approval to create a joint venture that will provide secure, automated payment processing, clearing and reconciliation solutions to the global travel industry.
Madrid and Southlake, Texas, 8 August, 2007: Sabre Holdings and Amadeus, leading providers in global travel distribution and technology, have filed with the European Commission for antitrust approval to create a joint venture that will provide secure, automated payment processing, clearing and reconciliation solutions to the global travel industry.
The intent of the joint venture is to establish an industry standard solution to improve and better meet the requirements of the travel industry with payment efficiencies, increased automation, and improved interoperability. The joint venture plans to focus on the non-air segments of the industry such as hotels, cruise, tour, car and rail. The joint venture will integrate the existing financial instruments already used by the travel industry into a best-in-class multi-channel, multi-GDS platform, which will allow travel industry players to effectively manage all aspects of their payment needs in a flexible, easy-to-use solution.
More information on the joint venture solution will be available upon approval of the venture.
About Sabre Holdings Corporation
Sabre Holdings connects people with the world's greatest travel possibilities by retailing travel products and providing distribution and technology solutions for the travel industry. Sabre Holdings supports travelers, travel agents, corporations, government agencies and travel suppliers through its companies: Travelocity, Sabre Travel Network and Sabre Airline Solutions. Headquartered in Southlake, Texas, the company has approximately 9,000 employees in 45 countries. More information is available at http://www.sabre-holdings.com.
Amadeus is the chosen technology partner for providers, sellers, and buyers of travel. The company provides distribution, IT and point-of-sale solutions to help its customers adapt, grow and succeed in the fast changing travel industry. Customer groups include travel providers (airlines, hotels, car rental companies, railway companies, ferry lines, cruise lines, insurance companies and tour operators), travel sellers (travel agencies) and travel buyers (corporations and travellers). Solutions are grouped in four solution categories – Distribution & Content, Sales & e-Commerce, Business Management and Services & Consulting.
The company is owned by WAM Acquisition, whose shareholders are BC Partners, Cinven, Air France, Iberia and Lufthansa. Amadeus employs some 7,600 employees worldwide, representing 95 nationalities. More information about Amadeus is available at: www.amadeus.com