Ongoing collaboration will support joint strategic development, investment and commercial plans
Upon closing, Serko will acquire GetThere, Sabre’s corporate online booking tool
Sabre Corporation and Serko Limited entered into a definitive agreement, under which Serko will acquire GetThere L.P. (“GetThere”), Sabre’s powerful business travel management solution.
Under the new partnership, Serko will acquire the GetThere business and work with Sabre to collaborate on the development of new product capabilities for corporate customers, as well as the growth and expansion of the companies’ relevant customer base – all to empower and deliver greater value to travel management companies (TMCs), corporate travel buyers, and, ultimately, business travellers. The partnership also defines a joint approach to commercial, sales and marketing initiatives to seek to facilitate growth in North America and beyond.
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 substantial 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. Serko will continue to operate and sell under the GetThere brand and the parties will work together on transitional arrangements to ensure customers experience product, service and management continuity. Sabre does not expect the sale of the GetThere business to significantly impact 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,” said Mr Darrin Grafton, Chief Executive and Co-Founder of Serko. “The acquisition of GetThere complements our existing North American 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: Prioritizing initiatives that will help minimize friction for travellers and increase efficiency for TMCs and corporations, Streamlining processes beyond shop, book and manage to reduce friction in disruptions, payments and expense, Utilizing each company’s technology, product and platform expertise to deliver new products and features. reconciliations.
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,” said Mr Garry Wiseman, Chief Product and Technology Officer of Sabre Travel Solutions. “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 delivering the solutions and services that our corporate customers need,” said Mr Roshan Mendis, Chief Commercial Officer of Sabre Travel Solutions. “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
GetThere has a long history of serving the largest and most complex managed travel corporations. Over the years, Sabre has introduced new, innovative capabilities for GetThere, helping customers control costs and deliver a higher ROI to make every trip a success. Most recently, Sabre has introduced several new enhancements to GetThere, including NDC capabilities, as well as a new air shopping experience which is driving positive business outcomes for both suppliers and corporate customers.
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