Serko buys Sabre’s corporate travel platform Get There for AU$18m

Texas-based technology company Sabre is entering a partnership deal with New Zealand-based Serko, transferring ownership of corporate travel provider Get There to the Kiwi company for US$12 million (AU$18 million).

Under the new partnership, Serko will acquire the GetThere business and work with Sabre to grow new product capabilities for corporate customers including travel management companies (TMCs), corporate travel buyers, and, ultimately, business travelers. Expanding the customer base to include the US is also a key focus of the partnership.

Upon closing of the deal, which is subject to customary conditions, ownership of the GetThere business will be transferred to Serko, including the GetThere solution and certain intellectual property used by GetThere in the operation of its business; the expertise and deep domain knowledge of the GetThere team members; as well as a strong global customer base that includes many blue-chip companies in North America.

The companies will utilise Sabre’s sales team in North America to co-sell and co-market Serko’s products, including GetThere and Zeno (Serko’s travel and expense management software).

Serko will continue to operate and sell under the GetThere brand and the parties will work together on transitional arrangements to ensure customers experience continuity of product, service, and management.

Sabre does not expect the sale of the GetThere business to have a significant impact on its revenue, Adjusted EBITDA or free cash flow in 2024 and thereafter.

“Our partnership with Sabre marks a significant step in Serko’s evolution, solidifying our commitment to delivering a comprehensive and seamless end-to-end solution for the global managed travel segment,” Serko chief executive and co-founder said Darrin Grafton.

“The acquisition of GetThere is highly complementary to our existing North America operations. Additional investments in our products and technology will support our momentum in North America and globally, benefitting partners and customers.”

Serko and Sabre will focus on strategic co-development and co-investment plans to develop new capabilities for the industry by:

• Prioritising initiatives that will help minimize friction for travelers and increase efficiency for TMCs and corporations
• Streamlining processes beyond shop, book and manage to reduce friction in disruptions, payments and expense reconciliations
• Utilising each company’s technology, product and platform expertise to deliver new products and features.

Additionally, through its partnership with Sabre, Serko will utilize the Sabre and Google co-innovation framework to further explore and develop new advancements and solutions for the corporate travel space.

“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,” Sabre Travel Solutions chief product and technology officer Garry Wiseman said.

“As a forward-thinking company within the corporate managed travel space, and backed by Sabre’s expertise and capabilities, we believe Serko is well-suited to lead the future of GetThere.

“Collaborating with Serko furthers Sabre’s deep commitment to deliver the solutions and services that our corporate customers need,” Sabre Travel Solutions chief commercial officer Roshan Mendis said.

“Together, we will help ensure that travel management companies and corporations are equipped to meet their travel program objectives, as well as the changing needs of business travellers.”