09:09 AM EDT, 04/28/2025 (MT Newswires) -- Sabre (SABR) said Monday it has signed a definitive agreement to sell its Hospitality Solutions business to TPG (TPG) for $1.1 billion in cash.

The deal, which is expected to close by the end of Q3, will establish Hospitality Solutions as a standalone business, Sabre said.

"Hospitality Solutions' platform is central to its customers' ability to manage and deliver great experiences for guests," said Tim Millikin, partner at TPG. "We have a long history of partnering with mission-critical software businesses like Hospitality Solutions that [...] can achieve meaningful growth."

Shares of Sabre jumped more than 17% in recent premarket activity, while TPG was down more than 2%.