Serko shares soar after Expedia deal

  • 19/08/2015
Serko shares soar after Expedia deal

Serko shares have jumped 20 percent from a record low, after the travel booking software firm announced a deal with US-based hotel-finding website Expedia.

The shares climbed 15 cents to 90 cents, rebounding from a record low of 75 cents at yesterday's close.

That's still below Serko's initial public offer price of $1.10 in June last year.

The Auckland-based company announced it has entered a new strategic partnership with Nasdaq-listed Expedia, opening up a new revenue stream for Serko.

The deal allows Serko customers to search and book Expedia and Wotif sites through its online booking tool. The company didn't put any dollar figures around the boost to sales.

In May, Serko widened its annual loss to $6.4M in the year ended March 31, while reporting revenue of $10.4M, below its prospectus forecast of $11M, blaming delays in the timing of some services.

NZN

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