Serko to acquire GetThere, Sabre’s corporate online booking tool

Sabre (SABR) and Serko Limited announced that they have entered into a definitive agreement, pursuant to which Serko will acquire GetThere L.P., Sabre’s 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 with the goal of empowering and delivering greater value to travel management companies, corporate travel buyers, and, ultimately, business travelers. 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 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,” the companies stated.