Thales today signed a binding agreement to acquire LiveTV, JetBlue’s fully-owned subsidiary for a total of US$400m dollars. The sale which is subject to regulatory and other approvals is expected to be completed in mid-2014.
Founded in 1998 in Melbourne, Florida (United States of America) LiveTV provides In-Flight Entertainment solutions for Seat Back, Regional Live Television, Wireless Video and Global Live television, and Connectivity solutions covering Ka-Band Broadband, Multi Band Broadband(Ku, Ka and L-Band), LiveAero and Regional Satellite Radio. With estimated revenues for 2014 projected at over US$150m, it is a wholly-owned subsidiary of JetBlue Airways and today employs around 450 people.
LiveTV has been a pioneer in the field of TV and more recently high speed airline and passenger Internet and communications services. LiveTV has equipped more than 700 aircraft worldwide with a range of extremely competitive products.
“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.”
“Passengers increasingly expect broadband internet services at home, at work and on the move. Airlines want to enable their passengers to have access to this connected environment within the aircraft, allowing them to interact with both social media and professional networks while they travel. Thales will provide solutions that cater to this need” he continued.