GT sale: what does this mean finally??
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There are fewer and fewer big name customers left on GT. And if Deloitte leaves (who are out to bid) that is the vast chunk of remaining business. Already some of the large customers left this year, or gave notice they'll be leaving in early 2025
Sabre Mgmt even had the Gnome Crying...
Sabre mismanaged Travelocity too
Did the Sabre GetThere people already get rebadged to Serko? If not, when? And how many and where?
Seems to be no details.
This is really good news for the GetThere team. They still have a lot of big logo customers and will get the focus they need from the Serko company. Good for them!
Also, does anyone know which offices the rebadged are located at. Is it mostly the US?
Sneaky way to lay off people without paying severance and without the delay of a notice period.
Anyone know how many Sabre people are being rebadged to Serko?
Trade Journals
Travel tech supplier Serko is acquiring online booking platform GetThere from Sabre as part of a new collaboration partnership between the two companies, they announced on Monday.
The US$12 million deal will see New Zealand-based Serko acquire ownership of the GetThere business, including the tool itself and "certain intellectual property" related to the operation of GetThere. The deal is subject to customary closing conditions, and the companies project it will close on or around Jan. 6, 2025, according to Serko.
Serko will pay $10 million in cash at the close of the deal and the additional $2 million in cash or shares in late 2025, Serko said
Where is $12 million publicized?
I thought they gave it away for free just to be rid of it since they didn't seem to specify the price.
How many folks directly impacted by this? I presume the major chunk from BLR?
Wow what a great investment Sabre spent $757 million cash for GetThere in 2000 and now selling for $12 million (cash plus potential sales rev).