Thursday, March 13, 2014

JetBlue To Sell LiveTV For $400 Million

MELBOURNE, Florida - JetBlue Airways  announced today that it has agreed to sell its wholly-owned subsidiary LiveTV to Thales Group for $400 million.  The sale, which is subject to regulatory and other approvals, is expected to be completed in mid-2014. 

"LiveTV has been an important part of building the JetBlue experience," said JetBlue President Robin Hayes in a statement. "Their ability to combine market leadership and drive technological advances has given JetBlue a market advantage in the onboard experience. We now come to the point where LiveTV's future as a disrupter in the inflight entertainment and data services space is best served by pairing with the right partner. We found that partner in Thales, themselves innovators in the technology space." 

Founded in 1998 in Melbourne, Florida, LiveTV is a provider of live in-flight entertainment and connectivity systems for commercial airlines. Current customers include JetBlue, Frontier, AirTran, Alitalia, Virgin Blue, WestJet and Azul. 

"LiveTV is a great strategic fit for Thales," commented Jean-Bernard Lévy, Chairman and CEO Thales. "It will improve our positioning in the high growth business of In-Flight Entertainment and Connectivity. Our aim is to offer the highest performance and most competitive and flexible connectivity solution to airlines regardless of their fleet-size, aircraft type or route structure.