Travel tech supplier Serko is acquiring online booking platform GetThere from Sabre as part of a new partnership between the two companies, they announced on Monday.
The $12 million deal will see New Zealand-based Serko acquire ownership of the GetThere business, including the tool itself and “certain intellectual property” related to the operation of GetThere. The deal is subject to customary closing conditions, and the companies project it will close on or around Jan. 6, 2025, according to Serko.
Serko will pay $10 million in cash at the close of the deal and the additional $2 million in cash or shares in late 2025, Serko said.
Once the deal is done, Serko plans to continue operating and selling GetThere as its own brand, with its Zeno platform staying as a distinct brand as well, a Serko spokesperson confirmed. From there, Serko will work with Sabre to develop “new product capabilities” for corporate customers and broaden its customer base,…
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