Serko buys Arnold Travel for 'nominal sum'

Thu, 30 Apr 2015

By Paul McBeth May 1 (BusinessDesk) - Serko, the online travel booking business, has bought Expedia's Arnold Travel Technology for a confidential nominal sum, which it expects will boost its Australasian transaction volumes by at least a fifth. The all-cash deal is expected to increase sales by 7-to-8 percent in the six months ending Sept. 30, though isn't likely to increase earnings before interest, tax, depreciation and amortisation until the second half of the 2016 financial year, Serko said in a statement. Those forecasts rely on Auck...

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