SKO
01/05/2015 08:40
GENERAL
PRICE SENSITIVE
REL: 0840 HRS Serko Limited
GENERAL: SKO: Serko Acquires Arnold Travel Technology
Market Release
1 May 2015
Serko Acquires Arnold Travel Technology
Serko Limited (SKO.NZ) An Australasian leader in online travel booking and
expense management for business, announced today that it has acquired the
business and assets of Arnold Travel Technology in an all cash deal from
Wotif Group, a leading operator of travel brands in the Asia-Pacific region
and part of the Expedia group (NASDAQ: EXPE).
Assuming retention of the majority of Arnold's existing client base, Serko
expects this transaction to result in an uplift in revenues for the six
months to 30 September 2015 in the range of 7-8%, however EBITDA will not
change materially for that period. Serko expects the transaction to deliver a
positive contribution to EBITDA in the second half of the financial year
FY16.
The acquisition is expected to increase Serko's Australasian transactional
volume by a minimum of 20% (based on current monthly transaction volumes) and
was completed for a confidential nominal sum.
Darrin Grafton, Serko's chief executive officer said "This is an important
strategic investment for Serko given we now expect around USD $4 billion of
Australia's corporate travel spend (TTV) to be booked through Serko's
platforms.
He continued "Through this transaction and our ongoing relationship with
Expedia Inc., we're able to continue to serve Arnold's corporate customers
and government accounts, significantly grow our business and to affirm our
commitment to our TMC resellers, which we maintain are crucial to our ongoing
success in the region."
Serko will announce its annual results for the year ended 31 March 2015 on 22
May 2015.
More information
Natasha Gillooly, Porter Novelli for Serko,
+ 64 21 915 297
[email protected]
For investor relations queries please contact:
Darrin Grafton Tim Bluett
Chief Executive Officer Chief Financial Officer
021 666 339 027 655 4461
Follow Serko
On Linkedin: http://www.linkedin.com/company/serko-ltd
On Twitter: https://twitter.com/SerkoOnline
About Serko
Serko is Australasia's leading online travel booking and expense management
company for businesses and is listed on the New Zealand Stock Exchange Main
Board (SKO.NZ). With its HQ in Auckland New Zealand, and with offices in
Sydney Australia, Xi'an City China and Gurgaon, India, Serko employs more
than 130 people worldwide.
Serko Online is an integrated Online Booking Tool used by administrators and
travellers to book flights, accommodation and car hire from the broadest
possible set of travel providers. The OBT ensures that travel bookings comply
with corporate travel management policy without limiting the users choice of
travel provider.
Visit www.serko.com for more information
End CA:00263767 For:SKO Type:GENERAL Time:2015-05-01 08:40:32
