Sabre provides a technology marketplace for the travel ecosystem (Photo Credit: Sabre)

Sabre Corp. is selling hospitality software platform, SynXis, to asset manager TPG for a reported $1.1 billion in a debt-reducing measure.?

The company, which is well-known within the travel industry for providing several different software platforms specific to the industry, including for travel advisors, will likely close the deal by the end of the third quarter, Reuters reports.?

SynXis is an integrated system for hotels to keep track of reservations and guest information.?

Its debt currently stands at $4.5 billion, with a market capitalization of $845.?

Sabre¡¯s shares increased nearly 26 percent in early trading today following the news of the sale, with stock up 13.5 percent.?

"This divestiture positions Sabre to focus on our core airline IT and travel marketplace platforms," said CEO Kurt Ekert.

Sabre is a key component to the travel industry¡¯s computer systems. It launched Sabre Red Launchpad, a different technology platform that expands Sabre Red 360 late last year. Sabre also?provides IT systems to airlines, including the SabreSonic Passenger Service System, which many airlines use, including American Airlines.?

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