Online travel and expense management software company Serko is poised to roll out its Zeno technology globally, through an emerging agreement with ATPI Group.
Zeno uses artificial intelligence to interpret natural language queries and simplify self-managed bookings, performing tasks such as recommending flights and hotels that conform to company booking rules or reflect travellers’ habits.
The NZX-listed business has entered into a non-binding memorandum of understanding (MOU) with ATPI Group and intends to negotiate a binding partnership over coming months.
The MOU outlines a process by which the two companies will work toward an agreement allowing ATPI to deploy Zeno globally. Serko said it had recently released Zeno into the Australian market, however, it is designed as a global platform.
"While significant to Serko’s strategy should a binding agreement be entered into, Serko does not anticipate a material uplift in revenue in either FY18 or FY19," the company told investors today.
Serko's share price has spiked sharply over the last five months, from trading at just 25 cents in April to $1.28 today, ahead of their mid-2014 offer price of $1.10 for the first time since December 2014.
In July, Serko partnered with Air New Zealand to deploy Zeno ahead of its official launch.
“We are keen to see a seamless experience for all traveller bookings, where the customer is experiencing the way that the airlines want their seats and other services sold," Serko CEO Darrin Grafton said at the time.
Disclosure: Rob O'Neill owns a small number of Serko shares.
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