NZ Stock Exchange listed online travel booking and expense management company Serko (NZX: SKO) has announced a collaboration with global travel systems operator, Sabre Corporation to develop the next version of Sabre Online.
Sabre Online is Sabre’s locally developed corporate online booking tool for small and mid-sized businesses in Australia and New Zealand.
Serko said the new version of Sabre Online would combine Sabre’s end-to-end offering with Serko’s cloud-based booking platform, enabling Sabre Online customers to combine add-ons from Serko, such as expense management, and to upgrade to a premium offering.Serko chairman, Simon Botherway, described the deal as “one of the largest and most important deals we’ve done to date.”
Serko, CEO, Darrin Grafton, said the deal would give Sabre access to a broader corporate online booking portfolio and give Serko access to a market of mid-sized organisations that was growing faster than any other market.
“Additionally, both Sabre and Serko’s Travel Management Company (TMC) customers will have access to a wider range of corporate travel solutions while enjoying the operational benefits of using a single underlying booking platform,” he said.
Serko said that existing Sabre Online customers would be migrated to the new version of Sabre Online starting in Q3 2016, with the aim of completing the migration before the end of the current financial yea (31 March 2017). It expects the deal to be worth a minimum of $1 million per annum and to start contributing to revenue in the second half of FY17, from 1 October 2016).