Sabre Corporation and Constellation Software announced they have entered a strategic governance agreement, with Constellation as a beneficial owner of approximately 12.7% of Sabre's outstanding shares.

Sabre Corporation (NASDAQ: SABR) ("Sabre" or the "Company"), a leading global travel technology company, and Constellation Software Inc. (TSX: CSU) ("Constellation"), a global, diversified technology provider that manages and builds vertical market software businesses and a beneficial owner of approximately 12.7% of Sabre's outstanding shares, today announced that following constructive discussions, the companies have entered into a strategic governance agreement. In connection with the agreement, Sabre will appoint Damian McKay, Chief Executive Officer of Vela Software Group, an operating group division of Constellation, to its Board of Directors.

Kurt Ekert, President and CEO of Sabre, commented: "We are pleased to reach this agreement with Constellation, which validates the progress we've made to sharpen our focus toward ushering in the next age of travel, underpinned by new and underpenetrated growth opportunities. We look forward to continuing to build a productive partnership together that focuses on long-term growth, durable returns, and accelerating innovation across the travel ecosystem."

Gail Mandel, Chair of Sabre's Board of Directors, commented: "We are pleased to welcome Damian to the Sabre Board. Damian is an experienced leader who brings a deep understanding of vertical market software businesses and the complex industries that they support. His perspective and relevant expertise will be valuable as Sabre continues to execute on our strategic priorities."  

Mark Miller, President of Constellation Software, commented: "Sabre is a great company in a highly attractive market. Global travel continues at record levels, and our investment in Sabre reflects our confidence in the Company. We are pleased to work with the Sabre Board and management team as a minority investor and long-term strategic partner."

Damian McKay commented: "I am excited to join the Sabre Board. I am committed to contributing my experience to support Sabre's continued success in delivering value to clients and shareholders."

The terms of the strategic governance agreement will be filed as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission. In connection with the agreement, the Sabre Board will terminate the Company's shareholder rights plan that was announced on March 1, 2026.

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