Serko (ASX:SKO, NZX:SKO), a New Zealand-based provider of online business travel booking solutions, is ramping up its North American presence with the acquisition of Sabre’s GetThere business travel platform for US$12m. This purchase, announced on 28 October 2024, positions Serko as the #2 corporate booking tool provider in North America, giving it access to a blue-chip customer base and the expertise of GetThere’s established team.
Serko’s flagship platforms, Zeno and Serko Online, provide seamless travel booking experiences for companies, integrating travel options with expense management and data insights.
Alongside the acquisition, Serko has entered into a five-year partnership with Sabre Corporation (NASDAQ:SABR), allowing both companies to co-develop technology solutions and share revenue from new customer acquisitions. Serko’s CEO, Darrin Grafton, highlighted the potential impact, stating, “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.”
Serko has set a target of $250m in total income by FY30, reflecting its ambitions for expansion in the NZ$400bn US-managed travel market. To support this, Serko will invest approximately NZ$40m in developing an open platform with advanced data and AI capabilities.