Serko’s secret acquisition could save 18-months' work

Serko’s secret acquisition could save 18-months' work
Chief executive Darrin Grafton said the rebound of business travel is inevitable even if the exact timing is unpredictable. (Photo: suppled)
Dan Brunskill
Serko is raising cash for an acquisition it hopes will cut 18-months from the company’s plan to reach $100 million of annual revenue in the medium-term.The travel booking software company is currently negotiating to buy an unidentified global travel technology business for between $50m and $75m – which would be paid mostly in Serko shares.It has earmarked a quarter of its $85m capital raise, or approximately $21m, to be spent on acquisitions.On a call with analysts, chief executive Darrin Grafton said the acquisition could help the...

More Markets

Fisher & Paykel Healthcare helps NZX up 1%
Markets Market Close

Fisher & Paykel Healthcare helps NZX up 1%

Skellerup Holdings shares rose 5.1%. 

Warehouse drops guidance, loss now in scope
Retail

Warehouse drops guidance, loss now in scope

The retailer has raised the possibility of a full-year earnings loss.

Xero’s Melio ‘leap of faith’
Markets Analysis

Xero’s Melio ‘leap of faith’

The NZ-founded company’s giant-killer dreams in the US hinge on this huge bet.