Airline connectivity and IFE content provider Global Eagle Entertainment has completed its previously announced merger with Advanced Inflight Alliance AG (AIA). Global Eagle acquired the final 6.05% stake in AIA that it did not already own from minority shareholders for a total purchase price of Euro11.1 million for the shares (Euro 7.63 per share). 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,” said Dave Davis, COO and CFO 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. As the world of in-flight media migrates to connected platforms, Global Eagle is ideally situated.”
