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Vista to take flight with JetSmarter
Posted on Thursday, 11 April 2019 06:57
Vista Global Holding is jetting off to buy US-based JetSmarter, a mobile-based booking platform for shared and private flights, for an undisclosed sum.
Subject to the usual closing conditions and the expiration or termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act, the transaction is expected to complete in the second quarter of 2019.
JetSmarter first spread its wings in 2012 and has been downloaded over 2.00 million times to date.
Its application is used for booking flights, and through its partnership with on demand aviation company, XOJET, JetSmarter allows customers to travel to and from more than 170 countries worldwide and currently connects its subscribers to over 100 flights per week.
A deal will enable Vista to speed up the booking process for its 150,000 annual passengers, while enhancing its technology and services for clients in the private aviation industry.
JetSmarter will also gain access to a wider fleet of aircraft and grow its customer base.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 2,131 deals targeting data processing, hosting and related services providers announced worldwide since the beginning of 2019.
German targets featured in the two largest transactions, the biggest of which involved Hellman & Friedman and BlackRock agreeing to buy online marketplace operator Scout24 for EUR 5.70 billion.
Other targets in this sector include Ellie Mae, Careem Networks and Direct ChassisLink.
Headquartered in Dubai and established in 2004, Vista claims to be the world leader in business flight solutions.
Its brands include VistaJet, a global aviation company comprising a fleet of 70 jets that has flown customers, including corporations and government officials, as well as private clients, to over 187 countries.
The buyer’s portfolio also includes Vista Lease, an aircraft leasing and financing company which is due to begin operating in 2019.
© Zephus Ltd