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.
JetSmarterโs innovative marketplace technology will fulfil Vista Globalโs digitization strategy, providing all customers with an unmatched end-to-end service and seamless booking experience. The acquisition will enhance Vista Globalโs formidable position offering the largest suite of services and advanced technologies to every private aviation customer.
Following JetSmarterโs successful digital partnership with XOJET, it will now bring its digital capabilities to the entire Vista Global group. JetSmarterโs industry-disrupting platform will therefore be integrated into the back-end technology of Vista Globalโs 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 Globalโs Founder and Chairman Thomas Flohr said: โTodayโs acquisition is an important milestone for Vista Global โ accelerating and executing our vision of digitizing the entire private aviation offering. Customers today want speed, reliability and value, which in todayโs world is only possible with technology. Vista Globalโs reach and infrastructure will take JetSmarter to the global stage to fully realize its potential. JetSmarterโs technology will digitalize Vista Globalโs market-leading customer offering to Program Members and On Demand customers.โ
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, JetSmarterโs digital platform allows both Members and On Demand customers to book private or shared trips instantly.
Following the acquisition, JetSmarterโs 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 groupโs unparalleled customer service and an unmatched in-flight experience.
Steven Langman, Managing Director and Co-Founder of Rhรดne Capital added: โVista Global is marking a new major milestone in its development. The acquisition of JetSmarter is fully in-line with the companyโs 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.โ
Behdad Eghbali, Managing Partner and Co-Founder of Clearlake Capital Group stated: โVista 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 industryโs 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.
WHAT TO TAKE AWAY FROM THIS ARTICLE:
- 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.
- 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.
- 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.