(image: Vista Global Holding)
DUBAI, UAE and FORT LAUDERDALE, Fla., Apr. 10 (Korea Bizwire) — Vista Global, a world leader in business flight solutions, announces that it has entered into an agreement to acquire JetSmarter, creating the global On Demand digital marketplace.
JetSmarter’s innovative marketplace technology will fulfil Vista Global’s digitization strategy, providing all customers with an unmatched end-to-end service and seamless booking experience. The acquisition will enhance Vista Global’s formidable position offering the largest suite of services and advanced technologies to every private aviation customer.
Following JetSmarter’s successful digital partnership with XOJET, it will now bring its digital capabilities to the entire Vista Global group. JetSmarter’s industry-disrupting platform will therefore be integrated into the back-end technology of Vista Global’s brands VistaJet, Vista Lease and XOJET. The integration will significantly improve the ease and speed of the booking process for the 150,000 passengers traveling with any of the Vista Global companies each year, building upon its impressive track record of offering customers the most technologically advanced solutions in the private aviation industry.
Vista Global’s Founder and Chairman Thomas Flohr said: “Today’s acquisition is an important milestone for Vista Global – accelerating and executing our vision of digitizing the entire private aviation offering. Customers today want speed, reliability and value, which in today’s world is only possible with technology. Vista Global’s reach and infrastructure will take JetSmarter to the global stage to fully realize its potential. JetSmarter’s technology will digitalize Vista Global’s market-leading customer offering to Program Members and On Demand customers.”
Since its founding in 2012, JetSmarter has become the preeminent provider of technology-enabled service to the business aviation market with two million downloads to date. Today, JetSmarter’s digital platform allows both Members and On Demand customers to book private or shared trips instantly.
Following the acquisition, JetSmarter’s customers will benefit from the reach, resources and operational expertise of Vista Global group. Its growing customer base will have access to a wider fleet, wherever they are in the world, and enjoy the highest standards in private aviation as they join the Vista Global family. They will significantly benefit from the group’s unparalleled customer service and an unmatched in-flight experience.
Steven Langman, Managing Director and Co-Founder of Rhône Capital added: “Vista Global is marking a new major milestone in its development. The acquisition of JetSmarter is fully in-line with the company’s mission: to transform the nature of the business aviation sector and offer its growing customer base a fast and seamless access to its services through digital innovation.”
Behdad Eghbali, Managing Partner and Co-Founder of Clearlake Capital Group stated: “Vista Global is the undisputed market leader with unmatched vision to consolidate and digitally transform this fragmented industry. Vista Global’s worldwide fleet access, unmatched end-to-end service experience, and world-class management team will combine with JetSmarter’s digital technology leadership including digital bookings and On Demand crowdsourcing to further expand Vista Global’s leadership. We are thrilled to partner with Thomas Flohr and the talented management team at Vista Global and believe that, combined with Vista Global, JetSmarter will flourish and revolutionize the industry’s digital transformation.”
The transaction is expected to be completed in the second quarter, subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. As part of the transaction, all JetSmarter investors, inclusive of Clearlake Capital and Jefferies Financial Group, will become investors in Vista Global, supporting its future growth. Jefferies LLC acted as financial advisor to JetSmarter.
About Vista Global Holding
Vista Global Holding is the world leader in business flight solutions. A global group headquartered at the DIFC in Dubai, Vista Global integrates a unique portfolio of companies offering asset lite solutions to cover all key aspects of business aviation: guaranteed and On Demand global flight coverage; aircraft leasing and finance; and cutting-edge aviation technology.
Founded by Thomas Flohr, the group’s mission is to further industrialize and consolidate the fragmented business aviation industry, and to lead the change to provide customers with the most advanced flying solutions and the very best value, anytime, anywhere around the globe. The group owns VistaJet, Vista Lease, XOJET (fleet & sales) and at the closing of the transaction described herein, JetSmarter. Vista Global’s knowledge and understanding of all facets of the industry deliver the best end-to-end offering, service and technology to any business aviation customer or platform.
Vista Global does not own or operate any aircraft. All flights are performed by FAA-licensed/DOT-registered EASA or U.S. certified Vista Global group direct air carriers and/or partner operators with a non-controlling minority stake held in XOJET Aviation LLC. For more information, visit www.vistaglobal.com
About JetSmarter
JetSmarter is a global community of fliers that prefer an elevated travel experience. Using technology and a sharing economy model, JetSmarter gives users the ability to create flights On Demand or book individual seats on flights created by fellow fliers, saving thousands compared to traditional private travel.
JetSmarter offers a number of programs including Private Charters, for which JetSmarter acts solely as the authorized agent in arranging the flight, and Public Charters, for which JetSmarter acts as principal in buying and reselling the air transportation. JetSmarter does not own or operate any aircraft. All flights are performed by FAA-licensed and DOT-registered air carriers.
For more information, visit www.jetsmarter.com
Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/694d6b39-6bb4-4f37-8849-4c1def3639a2
http://www.globenewswire.com/NewsRoom/AttachmentNg/b23cc41a-40c6-48b9-862e-539073fcd0da
Contacts
Vista Global
VistaGlobal@finsbury.com
JetSmarter
JetSmarter@brunswickgroup.com
Source: Vista Global Holding via GLOBE NEWSWIRE
