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

Thu, 25 Nov 2021

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...

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