Serko Limited, an Australia-based travel technology provider, announced a long-term partnership with Sabre Corporation that will include Serko’s purchase of Sabre’s travel management solution, GetThere, for $12 million. Serko said GetThere is “the #2 online booking tool provider in North America.”
The ownership of the GetThere business will be transferred to Serko upon close, including the GetThere solution and intellectual property, “the expertise and deep domain knowledge” of the GetThere team members joining Serko in the US, Australia, UK and India, as well as the company’s customer base. Serko will continue to operate and sell under the GetThere and Zeno brands.
Darrin Grafton, CEO of Serko, said: “The size of the opportunity in North America is significant and today’s announcement sets out the most compelling path to deliver long-term value for shareholders, partners and customers.”
Grafton said that for some time Serko has been closely considering how to scale in North America, expanding its existing operations in a $239 billion business travel market. This partnership and acquisition, he said, “is a logical step for Serko, with targeted growth in the US managed travel market strengthening our position as a leader in business travel technology.”
The partnership includes:
- Five-year initial term commencing upon the closing of the GetThere acquisition;
- Co-development and co-investment plans;
- Co-selling and co-marketing of Serko’s solutions utilizing Sabre’s North American sales team.
Garry Wiseman, travel solutions chief product and technology officer for Sabre, said: “This collaboration supports Sabre’s strategy to be the most valued platform technology provider for the travel industry while building upon our continued focus in the corporate travel space.”
Image: Courtesy of Serko
