Posted on: 16 April 2014
Global Eagle Entertainment Inc. (Global Eagle) has completed its previously announced merger with Advanced Inflight Alliance AG (AIA), acquiring the final 6.05% stake from minority shareholders for a total purchase price of EUR 11.1 million.
AIA has now been delisted from the Frankfurt Stock Exchange and trading in its shares has ceased.
“Now that we have 100% ownership of AIA, we can move forward to fully integrate AIA with our other businesses, driving significant operating efficiencies,” explained Dave Davis, Chief Operating Officer and Chief Financial Officer of Global Eagle. “The combination of AIA with PMG and IFE Services, both of which we acquired in 2013, position Global Eagle as the clear leader in providing media and content services to the global airline industry.”