Vista Global to buy JetSmarter

Vista Global said April 10 that it agreed to buy JetSmarter. Financial terms weren’t announced. JetSmarter, of Fort Lauderdale, Florida, provides a mobile app that connects travelers to private jets, PitchBook said. As part of the deal, Clearlake Capital and Jefferies Financial Group will become shareholders of Vista Global.

PRESS RELEASE

Executing on its digitisation strategy of the global On Demand private aviation marketplace

  • Provides Vista Global with an industry-disrupting technology platform already with over two million downloads
  • Vista Global will apply sophisticated data science, machine learning and AI to deliver clients the best value globally
  • Vista Global becomes the first company to offer an end-to-end digital suite of flying solutions to private aviation customers with instant booking options to fly anywhere, anytime, at a moment’s notice
  • Wider fleet access and operational excellence will enhance the experience for JetSmarter’s existing customer base, who will now benefit from Vista Global’s worldwide presence
  • Clearlake Capital, Jefferies Financial Group and other JetSmarter investors join Vista Global Shareholder family.

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.

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.

Thomas Flohr, Vista Global’s Founder and Chairman

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.

Vista Global is marking a new major milestone in its development. The acquisition of JetSmarter is fully inline 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.

Steven Langman, Managing Director and Co-Founder of Rhône Capital

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.

Behdad Eghbali, Managing Partner and Co-Founder of Clearlake Capital Group

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.