GBT plans multi-million dollar long-term annual investments in technology co-development with Saber
– Two leading companies plan to develop a distribution ecosystem for the corporate travel industry
– New agreement expects Saber to see significant growth in GDS bookings
SOUTHLAKE, Texas, December 3, 2021 / PRNewswire / – Saber Corporation [NASDAQ: SABR] and American Express Global Business Travel (GBT) today announced a long-term, multi-faceted strategic partnership focused on developing technologies that enable the future of business travel distribution.
As part of this newly expanded technology partnership – the in January 2022 GBT will strengthen its exposure to Saber and make a multi-million dollar long-term annual investment in technology development with Saber over the next decade. The partnership between two industry leaders places the two companies in an ideal position to deliver world-class products and services across the business travel ecosystem and to fuel significant growth for both businesses and the travel ecosystem as a whole.
“While the pandemic has undoubtedly challenged the travel industry, we firmly believe in a robust rebound over time, especially for business travel,” said Sean Menke, President and Chief Executive Officer of Saber. “However, the expectations of business travelers and companies have changed fundamentally; the demand for new, differentiated products tailored to the specific needs of travelers is likely to be stronger. Our strategic partnership with GBT is rooted in the shared belief we have about the technology requirements that will enable participants across the travel ecosystem to meet these new requirements. We look forward to our expanded business relationship with GBT and the longstanding partnership with them. “
Together, the companies will work to accelerate product innovation and develop a sales ecosystem that will meet the future needs of customers and suppliers. This includes working together to book business trips for companies that add value to customers and suppliers, accelerating merchandising and retail solutions, and enabling efficient and superior customer service.
“As industry thought leaders, GBT and Saber will define the future by developing sales software and capabilities that provide our customers and supplier partners with the value, choice and experience they have come to expect,” said Paul Abbott, CEO, American Express Global Business Travel. “By combining Saber’s retail and content aggregation capabilities, GBT’s corporate software and customer service, we can deliver the business travel experiences business travelers want.”
About Saber Corporation
Saber Corporation is a leading software and technology company that powers the global travel industry and serves a wide variety of travel companies, including airlines, hoteliers, travel agents and others. The company offers retail, distribution, and fulfillment solutions that help customers work more efficiently, increase sales, and deliver personalized travel experiences. Saber connects travel providers with buyers from around the world through its leading travel marketplace. Saber’s technology platform manages more than $ 260 billion worth of worldwide travel expenses annually. Headquarters in Southlake, Texas, USA, Saber serves customers in more than 160 countries around the world. For more information, visit www.sabre.com.
About American Express Global Business Travel
American Express Global Business Travel (GBT) is the world’s leading B2B travel platform and offers software and services for managing travel, expenses, meetings and events for companies of all sizes. We have built the most valuable B2B travel marketplace to offer unparalleled choice, value and experiences. With travel professionals in more than 140 countries, our customers and travelers enjoy the strong support of American Express Global Business Travel. www.amexglobalbusinesstravel.com
American Express global business trip
Certain statements herein are forward-looking statements about trends, future events, uncertainties, and our plans and expectations of what may happen in the future. All statements that are not historical or current facts are forward-looking statements. In many cases, you can use terms such as “expect”, “future”, “believe”, “plan”, “guidance”, “outlook”, “anticipate”, “will”, “predict”, “continue” to forward-looking statements. Forward-looking statements involve known and unknown risks , Uncertainties and other factors that could cause actual results, performance or accomplishments of Saber to differ materially from future results, performance or accomplishments expressed or implied in the forward-looking statements. Potential risks and uncertainties include below including the benefits and results of the partnership contemplated herein, the severity, extent and duration of the global COVID-19 pandemic, including all variants, and its effects a on our business and operating results, financial health and creditworthiness, as well as the travel industry and consumer spending in general, measures taken to contain the disease or its effects, including travel restrictions, the effectiveness and frequency of vaccinations, the effects of remote working arrangements on our operations and the Speed and extent of recovery in the entire travel ecosystem, dependence on transaction volumes in the global travel industry, in particular on air travel transaction volumes, including the effects of changes in these transaction volumes due to airline bankruptcies, suspension of services or aircraft stops, the effect of cost-saving initiatives, the timing, implementation and impact of technology investments and other strategic initiatives, completion and impact of travel platforms, use of alternative contracts Operating models by travel providers, price pressure in the travel solutions business, changes affecting the customers of travel providers, maintaining the integrity of our systems and infrastructure and the effects of security breaches, failure to adapt to technological advances, competition in the travel distribution market and solution markets, implementation of software solutions Dependence on third parties in the provision of IT services and the effects of these services, execution, implementation and effects of new, changed or renewed contracts and strategic partnerships, including expected savings, dependence on the establishment, maintenance and renewal of contracts with customers and other counterparties and the collection of amounts to which we are entitled under these contracts, depending on relationships with travel buyers, our collection, our processing, S storage, use and transmission of personal data on-related data and risks related to PCI compliance, our ability to recruit, train and retain employees including our officers and technical staff, the financial and business results and effects of acquisitions and divestitures, the effects of any litigation and regulatory reviews and investigations into adverse global and regional economic and political conditions including, but not limited to, economic conditions in countries or regions with traditionally high export volumes to China or with commodity-based economies and the effects of “Brexit”, risks from global activities, trust in the value of our brands, non-compliance with regulations, use of third-party sales partners, effects of the introduction of new accounting regulations and tax matters. For more information about potential risks and uncertainties that could affect our business and results of operations, please see the “Risk Factors” and “Forward-Looking Statements” sections of our Quarterly Report on Form 10-Q filed with the SEC on. was submitted November 2, 2021, in our Annual Report on Form 10-K, filed with the SEC on February 25, 2021 and in our other filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, prospects, guidelines, results, measures, levels of activity, performance or success. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statement to reflect circumstances or events after the date of their publication.
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SOURCE Saber Corporation