Sabre Corp said on Monday it will sell its hospitality software platform to asset manager TPG for $1.1 billion and use the cash to pare its debt, lifting the travel technology provider's shares nearly 26% in early trading.

Sabre, which produces technology for the travel industry, announced a deal to sell its hospitality technology operations for $1.1 billion to TPG, as it looks to address its debt pile and refocus its business.