Jetblue completes sales of LiveTV subsidiary to Thales
June 10, 2014, New York, N.Y. - JetBlue Airways has announced it has completed its sale of its wholly-owned subsidiary LiveTV to Thales Group for $399 million in cash.
The sale will allow LiveTV to continue the innovation that has set it apart as the leader in inflight entertainment (IFE) and onboard connectivity under Thales ownership. JetBlue will maintain its relationship with LiveTV to continue providing customers with differentiated, industry-leading inflight entertainment and connectivity products.
LiveTV is the leading provider of live IFE and connectivity systems for commercial airlines. In 2013, LiveTV and its partner ViaSat introduced Ka-band satellite-driven onboard connectivity, a game-changing technological advancement.
"LiveTV team members have contributed immensely to JetBlue's award-winning success over the past 14 years and the team will continue to be an important partner for JetBlue," said Robin Hayes, President, JetBlue Airways. "Under the leadership of Thales Group, we look forward to LiveTV continuing to deliver the innovative onboard connectivity and entertainment experience that our customers have come to expect."
"Our evolving product and service portfolio will enable airlines, on any fleet-size, aircraft type or route structure, to offer their passengers a highly robust connected experience before, during and after flight," said Thales CEO USA Alan Pellegrini, "The capabilities we now have strengthen our foundation as both a leading In Flight Entertainment and Connectivity systems manufacturer and connectivity service provider."
Barclays and Morgan Stanley acted as financial advisors to JetBlue on the transaction, and Shearman & Sterling served as legal counsel.